Since the fateful events of March 10th, 2023, I mean the SVB and Signature Bank crash, there has been a lot of attention on the US economy and the Dollar from the international community.
Best Instruments to Trade This Week
2023-02-14 • Updated
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
After price initially broke below the low marked with the horizontal arrow, we see price create a possible retracement move up towards the Moving Average array. At the top of the previous high we also see a rally-base-drop supply zone and the 200-Period moving average acting as confluences in support of a bearish reaction from the marked supply.
EURCAD is currently in an interesting zone. Price can be seen seemingly trying to decide whether to go a bit lower, to tap into the demand order block, or to simply react from the current area of support. Either way, there is a high probability that the price would go bullish anytime from now.
If you check NZDUSD on the Daily timeframe, you will notice that the 50-period Moving Average has already crossed above the 200-Day MA (Moving Average). When you correlate that with the chart above, you will see why I have chosen this particular setup for the week. After the break above, the high marked by the horizontal arrow, price comfortably established a bullish trend. This is why I am positive that price would provide us ample trading opportunities from the drop-base-rally demand order block.
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.
You can access more of such trade ideas and prompt market updates on the telegram channel.
On Friday, March 10, the 16th largest US bank suddenly burst. The bankruptcy became the second largest in history among American commercial banks. In this article, we look at what happened and how it could affect all of us.
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