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Forex

$EURUSD (EUR/USD) . Kumo resistance

EUR/USD has rebounded off the kumo support at around 1.305

Right now it is trading right at the resistance level as shown by the kumo around 1.3187

I think this is a fairly good setup for a short for the following reason:

1. We have a bearish cross from the Tenkan sen and Kijun some time back.

2. It is trading right at the kumo resistance level

3. The leading kumo has twist and suggest that the trend forward is down.

Target time frame to break kumo support is around 2 weeks (by May 10)