$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)


$TRAN . Weekly Kumo Resistance

On the Daily Chart, $TRAN (Dow Jones Transport) seems to have break above the resistance level. However, the break is not convincing and this is reflected in the last 3-4 candles.


On the Ichimoku Weekly Chart, the resistance level ahead is clearer.

Currently, we can see that the price level is hitting against a resistance level from the Chikou Span.

More importantly, we can also see that the kumo resistance is ahead at around 5250. The leading kumo has not twist and confirmation of bullish outlook is not confirmed.

Will we see $TRAN head higher in the weeks ahead? Yes, there is a chance. Option expiration is less than 2 weeks ahead. However, at this moment, there is chance that $TRAN may turn when it hit Feb.


$RIMM . Gap resistance and timeframe on Ichimoku

RIMM continues to face resistance fromt the gap down back in Sept 16.

From the Ichimoku chart, unless RIMM can break through and rally above $27 before end October, the resistance level at $24 will hold.