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It looks like trends are having trouble gaining traction these days, yielding another batch of new crossovers for this mech system. Ouch!

If this is the first time you’re reading about the SMA Crossover Pullback system, make sure you look at the trading rules and risk management adjustments first.

EUR/USD had a short position left open from the previous week, but this had to be closed when a bullish crossover happened.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

A stochastic pullback signal to go long soon followed, and this position is still open but not looking too good.

Cable also had a short position left open in the earlier update, and this one is still open for now. However, a new crossover looks ready to happen soon.

GBP/USD 1-hour Forex Chart
GBP/USD 1-hour Forex Chart

As for EUR/JPY, the pair had a valid long signal and this position is still open, even though the climb is slowing.

EUR/JPY 1-hour Forex Chart
EUR/JPY 1-hour Forex Chart

Here’s a look at the latest positions:

Trade Summary:

SMA Crossover Pullback Positions as of January 21, 2020
Pair Position Entry SL PT Status Pips %
EUR/USD Short 1.1107 1.1257 1.0807 Closed -31 -0.20
EUR/USD Long 1.1136 1.0984 1.1436 Open
GBP/USD Short 1.3085 1.3235 1.2785 Open
EUR/JPY Long 122.40 120.90 125.40 Open

With that, the SMA Crossover Pullback System is down 31 pips or 0.20% for the week because of the losing position on EUR/USD. I can’t help but worry that the open plays on all the pairs aren’t looking too good also!

Check out how this system fared in Q4 2019 and how it’s holding up to other mechanical systems in Forex Ninja’s weekly showcase!