Morning Call by Traders University

The FTSE 100 continued it’s journey into the bull territory yesterday as the banks rallied hard. Barclays climbed to it’s highest level since early October, rising 9.8 per cent. The index is now 20 per cent up from it’s recent lows of 3512 in early March.Yesterday the Dow closed at 8,168 forming a high test bar, the Nasdaq closed at 1,717 gaining resistance from the 200ema, and the S&P 500 closed at 873 forming a high test bar. A range of news was released yesterday, including a wide variety of company earnings. This combined with the ongoing swine flu is causing the markets to pause slightly during the ongoing uptrend.Forex News: Today is bank holiday for many European countries. Trading will resume from Tuesday. The EURUSD formed topped at 1.3383 but further bullish scenario was rejected as the pair whipsawed to the downside, hit the bottom at 1.3192 and closed at 1.3228 forming a high test reversal bar.