Morning Call by Traders University

Yesterday the FTSE 100 closed up 91 points at 4,340 breaking through minor resistance. The price is now mid-way between the 2 major moving averages. The Dow closed up 57 points at 8,504 and in doing so closed above the key level of 8,500. The Dow is now starting to form a small consolidation between her major moving averages.Forex news: USD is supported by comments from Chinese Vice Foreign Minister He Yafei, who stated that the dollar would “remain stable,” easing concern it will lose its reserve status. Overall, high yielding and emerging market currencies are trading lower against the USD and JPY, as investors remained cautious ahead of the release of US non-farm payroll data, resulting in higher demand for safe haven assets. At 12:45pm, EUR Minimum bid rate followed by ECB press conference at 1:30pm and the big one, Non Farm Payroll at 1:30pm. We will not place any trades today.