US markets continued higher on Friday in a low-volume pre-holiday weekend as the S&P knocks on the door of all-time highs. While traders will be encouraged by the multi-day move we have seen this week, particularly in technology, there doesn't seem to be a ton of enthusiasm to pile into more longs at new highs.
Asia caught some upside follow through after US record high with Nikkei up 1% and Europe shares higher as investors reacted to the results of European Parliament elections and presidential elections in Ukraine.
Billionaire Petro Poroshenko has claimed victory after exit-polls showed he would win 55% of the vote. This helped boost sentiment in the rest of Europe with investors hoping that the win will improve chances of peace across the region.
USD/CAD heading lower after Head&Shoulders pattern was resolved on break of support (neckline) around 1.09000. On Daily chart it is building nice bear flag below all key moving averages. Intermediate support at 1.08500 then we have May lows at 1.08133 and then 200 EMA at 1.07730. Those prices are my targets, but I am going to navigate this down trend on a daily basis.
AAPL had a nice move on Friday after it broke up through pivot resistance at $607.33 which I mentioned earlier. I will use moving averages to measure market structure in this stock as I think at this point it could be a bit extended and one of my rules is not to chase price.
Sentiment in NZD/USD is mixed with sellers keeping pressure from one side and buyers interest from another. Recently it dropped its 50 EMA first time since February and series of lower highs gives me feeling that it could resolve to downside. But I will be watching for bounce off of support at 0.85000-230. If sellers want to keep control they should not give up on 0.85740 resistance level.