Forex Trade Review: NZD/CHF Break and Retest of .7600

Here’s to starting the second quarter on a good note! I finally broke my forex losing streak with this small win on NZD/CHF. In case you haven’t been up to speed, make sure you check out the following first:

NZD/CHF Long Trade Idea

NZD/CHF Forex Trade Update

I must admit… I wanted to keep this trade open for much longer since I knew that fundamentals favored the Kiwi over the Swissy, but I decided to keep things simple for now by sticking with my original profit target around the pair’s previous highs. Thanks to the surge in risk appetite this week, NZD/CHF popped right up to the .7700 mark!

NZD/CHF 4-hour Forex Chart

NZD/CHF 4-hour Forex Chart

I was able to cash in a 0.51% gain on my account and a total of 120 pips on this trade. I’m pretty happy about locking in my wins so far, as price is showing a lot of hesitation in attempting to break past the .7700 barrier. I could decide to hop in with a buy stop order above the resistance later on but for now, I think I’ll reward myself with a salted caramel brownie to celebrate my winning trade!

Cheers!

Happy time

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