What to Trade in March

What to Trade in March

2023-03-02 • Updated

So far, the year 2023 has been eventful across several financial markets. As we step into March, it's time to prepare for the benefits the markets have in store. In this article, I will look into a few interesting, promising setups. 

GBPAUD

GBPAUDDaily00.png

The Daily timeframe of GBPAUD presents an entry from the rally-base-drop supply zone at the highlighted area. This entry naturally coincides with the 88% of the Fibonacci retracement tool and therefore grants an added confluence to our bearish sentiment.

Analysts’ Expectations: 

Direction: Bearish

Target: 1.76525

Invalidation: 1.90100

EURAUD

EURAUDWeekly.....png

EURAUD is another lovely setup on the weekly timeframe. Here we see price trading within a supply zone, a resistance trendline, and the 200-period moving average serve as the additional confluences that help solidify the bearish sentiment. Not to forget, the supply zone also matches 88% of the Fibonacci retracement tool.

Analysts’ Expectations: 

Direction: Bearish

Target: 1.51700

Invalidation: 1.62000

CHFJPY

CHFJPYWeekly00.png

From a weekly point-of-view, the bearish sentiment is solid and clear. The price chart shows the price action reacting to the supply zone created by the previous market structure break. As a result of the trendline resistance and the 88% Fibonacci retracement level, it is safe to consider this another beautiful trading opportunity.

Analysts’ Expectations: 

Direction: Bearish

Target: 142.6

Invalidation: 148

USDCAD

USDCADDaily-2802.png

USDCAD is the final setup to consider in this piece. The 50-Day moving average has recently crossed below the 100-Day moving average, suggesting the possibility of lower prices. There is also a confluence of the trendline resistance and the supply zone, solidifying the bearish sentiment alongside the 88% Fibonacci retracement level.

Analysts’ Expectations: 

Direction: Bearish

Target: 1.33855

Invalidation: 1.36600

CONCLUSION

The trading of CFDs comes at a risk. Thus, to succeed, you have to manage risks properly. To avoid costly mistakes while you look to trade these opportunities, be sure to do your due diligence and manage your risk appropriately.

TRY TRADING NOW

You can access more of such trade ideas and prompt market updates on the telegram channel.

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