March Forex Forecast

The ongoing war between Russia and Ukraine has led to a lot of volatility and has pushed prices higher and lower across all the asset classes. March is likely to be the month where seasonality tendencies might be downgraded in terms of actionability or reliability. If you are also interested in foreign exchange and want to know what the future might hold, read on for more on the March forex forecast and learn about the best places to trade Forex this month.


March has been bearish for EUR/USD. In fact, it has been the fourth-worst month according to data from the last five years. The average loss has been -47% during the time. Similarly, it has been the sixth-worst month in the last ten years, and the average loss is -38%.


Again, March has been bearish for these currencies. March has been the third-worst month of the year for this pair. The average loss was -0.54%. March has also been the fourth-worst month over the past 10-years, with an average loss of -0.32%.


March has been bullish for USD/CAD from a seasonality perspective. It has been the second-best month of the year for this pair over the last five years. There has been an average gain of +1.10%. Similarly, it has been the sixth-best month over the past 10-years, with an average gain of +0.24%.

Outlook for Currencies


The strength of the dollar increased when Russia invaded Ukraine. The EUR/USD began to break out of the tight range it has trapped for the last few months. The downward trend might continue following the consolidation, according to the daily chart. If the non-farm payroll figure is incredibly positive, the Euro might slide further against the US dollar.


USD/CAD was also trapped in a tight range for most of February. It rose again as the US dollar strengthened due to the Russian invasion. The price rose to a price gap from December 2021 before falling back to the range.

If the payroll data is weaker than expected, the USD might react negatively. If it’s better than the expectations, the USD strength could increase.

What are the Best Places to Trade Forex This Month?

If you want to trade Forex, you can consider the following options.

1.       FXTM

This platform allowed you to trade with variable and fixed spreads starting from only 0.1 on EDN accounts and 0.5 on Standard accounts. It’s globally licensed and regulated. You will get support in over 30 languages.

2.       LonghornFX

It is a true ECN STP broker delivering a good trading experience to every trader irrespective of their experience level. The services are based on innovation, transparency, and efficiency to ensure everyone gets an unparalleled trading experience.

3.       Pacific Union

It is one of the globally leading online brokers founded in 2015. It offers more than 200 products and offers an innovative trading facility for many assets like commodities, forex, indices, shares, and cryptocurrencies.

It is a service-oriented global online trading brokerage that offers multilingual services to 120 regions and nations.



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