Forex System Update: SMA Crossover Pullback (June 29-July 6, 2015)

Greetings, my dear humans! Here’s an update on the forex signals made by the SMA Crossover Pullback mechanical system on the currency pairs I’m watching. If this is the first time you’re reading about this strategy, make sure you check out its forex trading rules right here.

As I’ve shared in my previous blog update, downward SMA crossovers were seen for EUR/USD, GBP/USD, EUR/JPY, and AUD/USD towards the end of June so I had been waiting for short entry signals on a stochastic pullback. Here’s what we’ve got:

EUR/USD 1-hour Forex Chart

EUR/USD 1-hour Forex Chart

The sell signal that materialized on EUR/USD last Tuesday was open for the rest of the week. It actually hit the profit target sometime this week but since that’s not covered in this previous week review, I’m gonna pretend I didn’t know that yet.

GBP/USD 1-hour Forex Chart

GBP/USD 1-hour Forex Chart

As for GBP/USD, there have been no valid stochastic pullback signals in the past week as the pair doesn’t seem to be in the mood to retrace from its recent dive.

AUD/USD 1-hour Forex Chart

AUD/USD 1-hour Forex Chart

AUD/USD also had a valid short signal on Tuesday and the position has been kept open for the rest of the week.

EUR/JPY 1-hour Forex Chart

EUR/JPY 1-hour Forex Chart

Lastly, EUR/JPY also had a sell signal on Tuesday which had its target hit early this week when the pair gapped down.

I may be getting ahead of myself here but I’m looking forward to tallying the numbers for these positions, as the short trades on EUR/USD, AUD/USD, and EUR/JPY all hit their profit targets this week. Ka-ching, ka-ching! Stay tuned for my next blog update!