October 9th. Despite the rate cuts, the bailouts, and the global intent to save markets, things are still far from order. Market remains volatile and with no certain direction, while stocks around the world tend to shy recoveries, not even close to this week lost. Anyway, things should be some way, more “quiet” from now on, and markets will tend to stabilize.

Looking at 4 hours charts, the Eur/Usd is moving in an ascendant channel, more a correction than a bullish run. Indicators are also tending higher, yet the pair remains under pressure and seems hard to see ir regain ground. Quoting right now @ 1.3680, under 1.3644, first support for today, the pair should continue to the zone around the ascendant trend line, at 1.3614; above this line, the pair could gain some bearish momentum, first to the zone around 1.3580 and finally the key level 1.3550 that if broken, will open further down side bias. Resistances from here will be at 1.3710, the zone around 1.3756 and today’s maximum, around 1.3790, above which, the pair will try to test the 1.3820 zone.

 The Gbp/Usd, continues clearly bearish at the time, and although is early to say, the pair is breaking the monthly ascendant trend line, around 1.7300, suggesting a bearish continuation for next months, yet we will have to wait for further confirmation, at least a weakly clear opening under it. Quoting right now around 1.7290, the pair will find supports at 1.7250, followed by the zone @ 1.7215/25, and finally 1.7170, today’s minimum. A confirmation under it, will support the longer term bearish bias. Resistances from actual price will be at 1.7336, 1.7370 zone and finally 1.7420.

Finally Usd/Jpy continues dancing with stocks mood, yet tending bearish: quoting right now @ 100.85 , first support will be the zone around 100.46 followed by 100.10, the zone around 99.75 and finally 99.30, that if broken, could send the pair to yesterday’s minimum, @ 98.60. Resistances from here, will be the zone between 101.25/40 and finally 101.85.