This forex strategy caught a big win for Cable and some change for EUR/USD. I’ve got the latest positions right here!
Cable had a long position from a couple of weeks back that only gained upside momentum last week. Fortunately, this rally was sustained until the start of this week and the strong U.K. CPI readings provided the boost that the pair needed to hit its full PT.
EUR/USD had a new downward crossover since my last update and a short pullback signal materialized just before a new crossover formed. This early exit signal managed to snag a few pips for the pair, though, before a long pullback signal eventually materialized.
Lastly, EUR/JPY was still in Chopsville as changing market sentiment is doing a number on yen pairs. After hitting its stop loss last week, this pair generated a short signal that had to be closed on a new crossover right on its stop loss.
Here are the latest positions:
|Pair||Position||Entry||SL||PT||Status||P/L (pips)||P/L (%)|
Just a couple of weeks left until the end of Q3 and I’ve got a good feeling that this mech system can have a solid finish for the period. Risk sentiment has still proven to be tricky for the dollar and yen, but it looks like the European currencies are gaining traction on their own trends.