Amid tensed sentiment, the ADP employment report was released showing the U.S private sector jobs rise 216K last month, adding 43k Jobs to January's release and 12k above market estimates.
High yielders remain hesitant even after the release, as the euro dollar pair continues pushing to the downside trading around 1.3115 and pushing towards yesterday's low at 1.3102. The pair is net even so far as it opened the day at 1.3111. Penetrating 1.3100 will clear the way to a retest of the last month lows around 1.3000.The downside bias is expected to remain persistent today, where any upside attempt should be limited to 1.3180-1.3200 resistance. A breach above could extend to 1.3250.
GBP/USD has breached a bearish head and shoulder pattern recently to head sharply lower breaching another ascending trend line and currently challenging 1.5695 static support, clearing this support shall open the door for a retest of the major swing low around 1.5645. Pullback should be stopped below 1.5760, otherwise we me see a test of 1.5800 resistance and the breached ascending trend line.
The U.S dollar is attempting to gain upside momentum again against the Japanese yen, after seeing the pair drop for the past few days, the pair is attempting to stabilize above 80.50 areas, succeeding to settle above 81.00 again signals that price could have done with the current downside correction, eyeing 81.80 high again. In general, we have a bullish outlook for the pair, and 80.50 and 80.00 should support price from the downside.
Silver has tested the major $32.60 swing low and support level (more analysis). The current bearish wave shall extend significantly within the main descending channel that carried price action from $50.00 top f the metal manages to hold below this swing low, eyeing $30.65 as the next main target followed by $26.00 major low.