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Tifia Daily Market Analytics

Discussion in 'Forex Discussion' started by TifiaFX, Mar 14, 2017.

  1. TifiaFX

    TifiaFX Member

    AUD/USD: downward trend prevails

    18/02/2020


    The publication of protocols from the February meeting of the RBA at the beginning of today's Asian session caused a drop in the Australian dollar and the pair AUD / USD. At a meeting on February 4, the RBA board decided to leave interest rates unchanged, at a record low of 0.75%. However, "there is reason to expect a lower key rate", said RBA head Philip Lowe. At the same time, “coronavirus is a new source of uncertainty”, the RBA management believes.

    According to bank executives, "the epidemic poses a significant short-term economic risk for China and international trade flows, and therefore for the Australian economy".

    Now, investors will follow the publication (on Wednesday and Thursday at 00:30 GMT) of data from the country's labor market in order to determine the further exchange rate of RBA interest rates and, accordingly, the dynamics of AUD. According to the forecast, unemployment is expected to increase in January to 5.2% from 5.1% in December. This is a negative factor for AUD.

    Meanwhile, at the beginning of today's European session, AUD / USD is trading near 0.6680, below the key resistance level of 0.6880 (EMA200 on the daily chart), which indicates the prevalence of a downward global trend.

    Only after growth into the zone above short-term important resistance levels of 0.6720 (ЕМА200 on the 1-hour chart), 0.6780 (ЕМА200 on the 4-hour chart) can we return to the consideration of long positions with the target at the resistance level 0.6880.

    Negative dynamics of AUD / USD prevails, speaking in favor of its sales.

    In case of resumption of decline, the targets will be the support levels of 0.6600, 0.6500, 0.6260, 0.6000 (lows of 2008 - 2009).

    Support Levels: 0.6670, 0.6660, 0.6600, 0.6300

    Resistance Levels: 0.6720, 0.6755, 0.6780, 0.6800, 0.6845, 0.6880, 0.6935


    Trading Recommendations


    Sell Stop 0.6665. Stop-Loss 0.6725. Take-Profit 0.6600, 0.6300, 0.6260

    Buy Stop 0.6725. Stop-Loss 0.6665. Take-Profit 0.6755, 0.6780, 0.6800, 0.6845, 0.6880, 0.6935

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  2. TifiaFX

    TifiaFX Member

    EUR/USD: when will the fall of the euro stop?

    19/02/2020


    Macro data published at the beginning of yesterday's European session testified to the growing fears of European investors regarding the spread of coronavirus in China and the worsening business climate in Germany and the Eurozone.

    The ZEW Institute reported a fall in the index of economic expectations in Germany in February to 8.7 (against 26.7 in January and a forecast of 21.5) and an economic sentiment index in the Eurozone to 10.4 (against 25.6 in January and a forecast of 30).

    The EUR / USD completed the last trading day near the level 1.0789, reaching the lowest level since April 2017.

    However, a deeper decline in EUR / USD has not yet been observed. On Wednesday, the pair is trading in a narrow range near the critical level of 1.0800 in anticipation of new drivers, either for corrective growth or for further decline.

    It is noteworthy that in the first half of today's trading day there is an increase in the euro in cross-pair with the pound. If the strengthening of the euro extends to other important cross-pairs, we can seriously consider the likelihood of resumption of growth and the EUR / USD.

    The first signal to resume purchases of EUR / USD will be a breakdown of the short-term resistance level of 1.0873 (ЕМА200 on the 1-hour chart).

    So far, the long-term negative dynamics of EUR / USD. A breakdown of the local support level of 1.0790 will speak in favor of short positions and a decrease in EUR / USD towards the lows of March 2015 and the level of 1.0480 (Fibonacci level 0% of the upward correction to the fall of the pair from 1.3870 in May 2014 to 1.0480 reached in March 2015).

    On Wednesday, investors will follow the publication (at 19:00 GMT) of the protocol from the January meeting of the Fed. In January, the Fed kept interest rates unchanged and signaled its intention to maintain them at their current level in the near future. The Fed also announced that it will continue to purchase treasury bonds in the 2nd quarter of 2020 and intervene in the repo markets. If the protocols contain new information signaling the Fed’s propensity for a softer policy, then the dollar, which has strengthened significantly in recent days, may decline, which will become a good positive driver for the so far correctional growth of EUR / USD.

    Support Levels: 1.0790, 1.0800

    Resistance Levels: 1.0815, 1.0873, 1.0900, 1.0945, 1.0990, 1.1080, 1.1115


    Trading Recommendations


    Sell Stop 1.0780. Stop-Loss 1.0825. Take-Profit 1.0700, 1.0600

    Buy Stop 1.0825. Stop-Loss 1.0780. Take-Profit 1.0873, 1.0900, 1.0945, 1.0990, 1.1080

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  3. TifiaFX

    TifiaFX Member

    S&P500: long positions are still relevant

    20/02/2020


    During today's Asian session, the S&P500 updated another record high near 3397.0 mark. Demand for US assets remains. In the current situation of the spread of coronavirus and the slowdown of the Chinese and global economies, the US economy looks most stable. During the January meeting, the Fed signaled increased optimism about the US economy. According to the minutes published Wednesday, Fed leaders "saw an improvement in the balance of risks for economic prospects compared to the previous meeting".

    Demand for US assets is growing. So, according to data released last Tuesday, net purchases of US long-term securities by foreign investors in December amounted to $ 85.6 billion, which is $ 60 billion higher than forecast. Economists believe that in the second half of the year the results of American companies will improve.

    This, along with expectations of a softer monetary policy by the Fed, creates the prerequisites for further growth of US stock indices.

    So, the Dow Jones Industrial Average on Wednesday trades increased by 0.4% to 29348.00 points, the S&P 500 grew by 0.5%, to a new record high of 3386.00 points, the Nasdaq Composite jumped 0.9% to 9817.00, also a new record high.

    In the event of a breakdown of the local resistance level 3397.0, the S&P500 growth is likely to continue.

    In an alternative scenario and after the breakdown of short-term support levels of 3364.0 (ЕМА200 on the 1-hour chart), 3306.0 (ЕМА200 on the 4-hour chart), the S&P500 correctional decline may continue to the support level 3250.0 (the lower border of the ascending channel on the daily chart and the highs of 2019). However, only a breakdown of support levels 3025.0 and 2990.0 (Fibonacci level 38.2%) will increase the risks of breaking the bullish trend of S&P500.

    Today, investors will pay attention to the publication (at 13:30 GMT) of weekly data on the number of initial applications for unemployment benefits and the Conference Board index for January (at 15:00 GMT). This index represents the combined value of 10 economic indicators related to employment, new orders, consumer confidence, housing, stock market prices, lending trends and interest spreads. According to the forecast, the index is expected to grow by +0.4%, which is also a positive factor for US stock indices and the dollar.

    The S&P500 index maintains a long-term positive trend. Above the support levels 3364.0, 3335.0, long positions are preferred.

    Support Levels: 3364.0, 3335.0, 3306.0, 3250.0, 3147.0, 3082.0, 3025.0, 2990.0

    Resistance Levels: 3397.0, 3400.0


    Trading Recommendations


    Sell Stop 3347.0. Stop-Loss 3398.0. Targets 3335.0, 3306.0, 3250.0, 3147.0

    Buy Stop 3398.0. Stop-Loss 3347.0. Goals 3450.0, 3490.0

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  4. TifiaFX

    TifiaFX Member

    GBP/USD: downtrend risk increased

    21/02/2020


    According to Markit Economics, the Purchasing Managers Index (PMI) in the UK manufacturing sector rose in February (51.9 against the forecast of 49.7 and 50.0 in January), reaching a 10-month high. The preliminary PMI for the UK services sector was forecast at 53.4 in February, but came out with a value slightly lower (53.3 against 53.9 in January).

    Having received support from positive macro statistics, the pound strengthened, while the GBP / USD pair rose during the European session to an intraday high of 1.2951.

    However, further growth of GBP / USD above the intraday high of 1.2951 did not follow. Investors are still cautious about positive macro data against the backdrop of Brexit and the spread of coronavirus in Asia.

    The theme of coronavirus today again came to the fore. The growth in the number of new infected people in China and South Korea again raises concerns among investors, including the slowdown in global economic growth.

    Economists also believe that the UK draft budget expected on March 11 will not contain plans for a significant fiscal stimulus to the economy, and the yield on UK 10-year government bonds by the 3rd quarter will fall by 40 basis points.

    At the same time, the dollar continues to be in demand both as a defensive asset, and against the backdrop of positive macro statistics coming from the United States. Most likely, the DXY dollar index will finish in positive territory for the third week in a row.

    Despite the current growth of the GBP / USD pair, the OsMA and Stochastic indicators on the daily and weekly charts switched to the side of the sellers, signaling the likelihood of a breakdown of the key support level of 1.2850 (EMA200 on the daily chart) and the resumption of the global GBP / USD downtrend.

    GBP / USD has already broken through important short-term support levels of 1.3000 and 1.2962, which speaks in favor of short short-term positions with an immediate goal at the support level of 1.2850.

    In an alternative scenario, and after the breakdown of resistance levels 1.2962 (ЕМА200 on the 1-hour chart), 1.3000 (ЕМА200 on the 4-hour chart) GBP / USD will resume upward trend and head towards the local resistance level 1.3069. Further growth of GBP / USD in the current situation is unlikely.

    Support Levels: 1.2850, 1.2400, 1.2200, 1.2000

    Resistance Levels: 1.2962, 1.3000, 1.3069, 1.3210, 1.3310, 1.3510, 1.3960


    Trading Scenarios


    Sell Stop 1.2890. Stop-Loss 1.2970. Take-Profit 1.2850, 1.2400, 1.2200, 1.2000

    Buy Stop 1.2970. Stop-Loss 1.2890. Take-Profit 1.3000, 1.3069, 1.3210, 1.3310, 1.3510, 1.3960

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  5. TifiaFX

    TifiaFX Member

    EUR/USD: short positions

    25/02/2020


    Amid continued investor concerns about the spread of coronavirus in China and its impact on the European economy, the decline in EUR / USD resumed on Tuesday. According to economists, in the 1st quarter of Germany's GDP growth may slow due to a reduction in exports and supply shortages, including from China and to China. 10% of intermediate goods for German factories come to Germany from China, while China accounts for about 6% of German exports. In China, the coronavirus epidemic has already affected production, export, and consumption levels. Now the virus has reached northern Italy, where more than 50,000 local residents were quarantined last Sunday.

    The coronavirus epidemic directly threatens global economic growth, since the supply chain of many international enterprises depends on the supply of intermediate and finished products from China. Economists have warned that the global economy could miss $1 trillion of GDP.

    For this reason, the dollar is likely to win, as many investors pay attention to it as a defensive asset along with traditional defensive assets (government bonds, gold).

    Published at the beginning of yesterday's European session, the positive macro data on Germany could not decisively change the negative attitude towards the euro by investors.

    At the beginning of today's European session, the EUR / USD broke through the short-term support level of 1.0843 (EMA200 on the 1-hour chart) and continues to decline towards recent multi-year lows near the 1.0775 mark reached last week.

    Several factors of a fundamental and technical nature speak in favor of a further decline in EUR / USD towards the lows of March 2015 and the level of 1.0480 (Fibonacci level 0% of the upward correction to the fall of the pair from 1.3870 in May 2014 to 1.0480 reached in March 2015)

    In this situation, short positions are preferable, even if the upward correction starts again. A signal for her will be a return to the zone above the resistance level of 1.0843.

    Support Levels: 1.0800, 1.0775

    Resistance Levels: 1.0843, 1.0873, 1.0900, 1.0945, 1.0990, 1.1100


    Trading Recommendations


    Sell by market. Stop-Loss 1.0880. Take-Profit 1.0775, 1.0700, 1.0600

    Buy Stop 1.0880. Stop-Loss 1.0790. Take-Profit 1.0900, 1.0945, 1.0990, 1.1100

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  6. TifiaFX

    TifiaFX Member

    DJIA: negativity prevails

    26/02/2020


    The positive mood of investors related to the signing of the “first phase” trade agreement between the US and China last month changed to a pessimistic one due to the spread of coronavirus outside of China, which could have an even greater negative impact on the global economy.

    Earlier this month, Chinese President Xi Jinping assured US President Trump of China's intention to fulfill the obligations of a recently signed trade deal. At the same time, Jerome Powell, Chairman of the US Federal Reserve System, said that the rapid spread of the virus will inevitably affect the Chinese economy and may affect the US economy.

    And so, investors' fears intensified on Tuesday after reports of the further spread of coronavirus and warnings of the US Centers for Disease Control and Prevention (CDC) about a potential pandemic.

    The S&P 500 fell another 0.3% on Tuesday to 3138.00 points, while the Nasdaq Composite lost 2.8%, reaching 8966.00 points, losing growth compared to the beginning of the year. Last week, the DJIA was trading near 29528.0, which corresponds to record and absolute highs. But today, at the beginning of the European session, DJIA futures are trading near the 26900.0 mark, 9.6% below last week's highs.

    Protective assets are again in active demand. On Wednesday, the yield on 10-year US government bonds fell at the beginning of the European session to 1.321% (against 1.473% at the end of last week and against 1.576% at the beginning of last week), which corresponds to the lows of 2016. Gold quotes also resumed growth after falling on Tuesday.

    DJIA broke through the important support level of 27546.0 (ЕМА200 on the daily chart) and at the beginning of today's European session it is traded near 27070.0.

    It is not excluded that the index may decline further to support levels of 26220.0 (Fibonacci level 23.6% of correction to the DJIA growth wave that began in February 2016 from 15500.0), 25200.0 (August lows and ЕМА144 on the weekly chart), 24600.0 (June 2019 lows).

    However, only a breakdown of the support level of 24150.0 (EMA200 on the weekly chart and the Fibonacci level 38.2%) can break the DJIA long-term bullish trend.

    Growth into the zone above the resistance level of 27546.0 will revive the positive dynamics of the DJIA and once again make long positions relevant.

    Support Levels: 26700.0, 26220.0, 25200.0, 24600.0, 24150.0

    Resistance Levels: 27546.0, 27900.0, 28160.0, 28630.0, 28840.0, 29528.0


    Trading Scenarios


    Buy Stop 27350.0. Stop-Loss 26700.0. Take-Profit 27546.0, 27900.0, 28160.0, 28630.0, 28840.0, 29528.0

    Sell Stop 26700.0. Stop-Loss 27350.0. Take-Profit 26220.0, 25200.0, 24600.0, 24150.0

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  7. TifiaFX

    TifiaFX Member

    Brent: short positions

    27/02/2020


    Amid falling global stock indices due to investors' fears about the increased risks of the coronavirus pandemic, oil prices continue to decline. On Wednesday, the price of Brent crude oil broke through the bottom line of the upward channel on the weekly chart, passing through the mark of 53.50, and continued to decline in the first half of today's trading day. At the beginning of today's European session, Brent crude is traded near 52.40, falling in price for the 5th day in a row.

    Prices are also falling amid disagreements between OPEC and Russia over oil production restrictions. Next week, the OPEC+ coalition summit will be held in Vienna. Saudi Arabia insists on a further reduction in total production; however, these proposals did not find support from Russia. If OPEC+ fails to agree on an additional reduction in production volumes, this will lead to an even larger decline in oil prices.

    The oil market is dominated by bearish sentiment.

    The price may receive support on Friday if the next weekly report of the American oilfield services company Baker Hughes indicates a decrease in the number of active drilling rigs in the United States. However, in any case, this support will be very short-term and limited.

    The downward trend prevails, pushing the price towards the December low of $50.00 per barrel. Only growth into the zone above the resistance levels of 62.50 (EMA200 on the daily chart), 63.90 (Fibonacci level 38.2%) will again make long-term long positions relevant.

    A signal to start shopping can be a breakdown of the resistance levels 56.20 (EMA200 on the 1-hour chart) and 56.90 (Fibonacci level 50% of downward correction in the wave of price growth from the level near the level of 27.10 to the highs of October 2018 near the level of 86.60 dollars per barrel). Short positions are preferred so far.

    Support Levels: 52.00, 51.00, 50.00

    Resistance Levels: 53.50, 56.20, 56.90, 58.60, 60.40, 61.80, 62.50, 63.90


    Trading recommendations


    Sell by market. Stop-Loss 54.10. Take-Profit 52.00, 51.00, 50.00

    Buy Stop 54.10. Stop-Loss 52.10. Take-Profit 56.20, 56.90, 58.60, 60.40, 61.80, 62.50, 63.90

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  8. TifiaFX

    TifiaFX Member

    S&P500: negative dynamics

    28/02/2020


    World and US stock indices continued to decline in the first half of today's trading day.

    Last Thursday, the Dow Jones Industrial Average fell another 4.4% to 25766.00 points, the S&P 500 fell 4.4% to 2978.00 points, and the Nasdaq Composite fell 4.6% to 8566.00 points. All three indices fell more than 10% from their recent highs reached this month, moving to the territory of correction.

    Due to the global spread of coronavirus, investors avoid risky assets and prefer protective assets such as government bonds and gold.

    According to the latest data, the number of people infected with coronavirus worldwide exceeded 82,000, and the death toll was 2,800.

    Pessimism of investors is dominant in financial markets, associated with expectations of a slowdown in the global economy due to coronavirus. At the beginning of the European session on Friday, the yield on 10-year US government bonds fell to 1.163% (against 1.505% at the end of last month), which corresponds to absolute record lows.

    S&P500 has lost by now more than 15%, having dropped from absolute highs, where it was still 2 weeks ago.

    The index broke through the most important long-term support levels 3080.0 (ЕМА200 on the daily chart), 2990.0 (Fibonacci level 38.2% of the correction to the growth since December 2018 and the level of 2335.0) and continued to decline in the first half of today's trading day. In case of further decline, the targets will be the support levels of 2865.0 (Fibonacci level 50%), 2740.0 (Fibonacci level 61.8%), 2700.0 (ЕМА200 on the weekly chart).

    The first signal for purchases may be a breakdown of the resistance levels of 2990.0 (Fibonacci level 38.2%), 3025.0 (highs of July 2019), and after the S&P500 returns to the zone above the resistance levels of 3080.0, 3147.0 (Fibonacci level 23.6%), the index will continue to grow , and the long-term bull trend will resume.

    Support Levels: 2865.0, 2740.0, 2700.0

    Resistance Levels: 2990.0, 3025.0, 3080.0, 3147.0


    Trading Recommendations


    Sell Stop 2875.0. Stop-Loss 2995.0. Objectives 2865.0, 2740.0, 2700.0

    Buy Stop 2995.0. Stop-Loss 2875.0. Objectives 3025.0, 3080.0, 3147.0, 3200.0, 3400.0, 3450.0, 3490.0

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  9. TifiaFX

    TifiaFX Member

    AUD/USD: commodity currencies strengthened on Monday

    02/03/2020


    During the Asian session on Monday, the AUD / USD pair rose by 1.3% to 0.6550, which is 115 points higher than the minimum reached last Friday.

    Some economists and investors are beginning to gradually realize that fears of a global coronavirus pandemic and a fall in global stock indices have turned out to be excessive.

    Moreover, some leaders of global central banks have made it clear that central banks will support the economy if necessary.

    Jerome Powell, chairman of the US Federal Reserve, made it clear on Friday that the central bank is preparing to lower interest rates to support the economy in light of the spread of coronavirus.

    On Monday, Bank of Japan Governor Haruhiko Kuroda said the central bank is closely monitoring the development of the situation around the coronavirus and "will be able to provide enough liquidity, as well as ensure the stability of financial markets through market operations and asset acquisitions".

    Market participants will be waiting for the results of the meetings of the central banks of Australia and Canada, which will be held this week. Some investors and economists expect the RBA to cut rates by 25 basis points on Tuesday, and then continue to cut rates in April.

    If the RBA takes this step, then other major central banks may follow suit. The decision on the RBA interest rate will be published on Tuesday at 03:30 (GMT).

    On Monday, AUD / USD is growing, trying to develop a correction into the zone above the short-term resistance level of 0.6587 (ЕМА200 on the 1-hour chart).

    In case of its breakdown, correctional growth will continue to resistance levels of 0.6670, 0.6700 (ЕМА200 on the 4-hour chart).

    A signal for the resumption of decline may be a breakdown of the short-term support level of 0.6535 (EMA200 on the 15-minute chart).

    Below the key resistance level of 0.6850 (ЕМА200 on the daily chart), the downward global trend of AUD / USD prevails.

    Support Levels: 0.6535, 0.6500, 0.6434, 0.6400, 0.6300

    Resistance Levels: 0.6587, 0.6670, 0.6700, 0.6755, 0.6810, 0.6850


    Trading Recommendations


    Sell Stop 0.6530. Stop-Loss 0.6590. Take-Profit 0.6500, 0.6434, 0.6400, 0.6300

    Buy Stop 0.6590. Stop-Loss 0.6530. Take-Profit 0.6670, 0.6700, 0.6755, 0.6810, 0.6850

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  10. TifiaFX

    TifiaFX Member

    USD/CAD: global central banks will support the economy

    03/03/2020


    Back in January, the USD / CAD was traded near the multi-month low of 1.2960, which corresponds to the levels of October 2018. However, already at the end of February, USD / CAD reached 1.3460 (June 2019 levels), gaining 4.3% in two months.

    Fears about the coronavirus pandemic caused a severe drop in world stock indices and commodity prices, with which crawled down and commodity currencies quotes.

    In its latest report, released on Monday, the Organization for Economic Co-operation and Development (OECD) lowered its forecast for economic growth in 2020, as China's economy was hit hard by the outbreak of coronavirus. Now the OECD expects that global GDP this year will grow by 2.4% compared to 2.9% according to the December forecast.

    Investors now hope that global central banks and government departments will help markets stabilize and protect the economy from the effects of coronavirus.

    The RB of Australia lowered its interest rate by 0.25% on Tuesday, bringing it to the level of 0.50%, which was the fourth decrease in less than a year. RBA Governor Philip Lowe signaled the likelihood of further policy easing.

    On Wednesday, a meeting of the Bank of Canada will take place, and the decision on the rate will be published at 15:00 (GMT).

    If the Bank of Canada reduces the rate by 0.25%, then it will drop to 1.50% from the current 1.75%.

    Signs of worsening morbidity in Iran, Italy and South Korea are forcing market participants and global central banks and governments to overestimate the severity of impending problems. The decline in world commodity prices, primarily oil, is also putting pressure on the Canadian dollar. Thus, the USD / CAD pair is likely to maintain positive momentum, at least this week.

    Above the short-term support level of 1.3330 (ЕМА200 on the 1-hour chart), only long positions should be considered. A signal for sales may be a breakdown of this support level with a target at support levels 1.3253 (ЕМА200 on the 4-hour chart), 1.3215 (ЕМА200 on the daily chart). Above the support level of 1.3215, the bullish trend of USD / CAD prevails.

    Support Levels: 1.3345, 1.3330, 1.3253, 1.3215

    Resistance Levels: 1.3380, 1.3435, 1.3452, 1.3465


    Trading Scenarios


    Sell Stop 1.3310. Stop-Loss 1.3410. Take-Profit 1.3253, 1.3215

    Buy in the market. Stop-Loss 1.3310. Take-Profit 1.3380, 1.3435, 1.3452, 1.3465

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  11. TifiaFX

    TifiaFX Member

    NZD/USD: emergency measures

    04/03/2020


    As a result of an almost recoilless decline over the past 2 months, the NZD / USD pair reached a local minimum near the 0.6190 mark in early March, which corresponds to the lows of July 2009, when the global crisis of 2008 only began to decline.

    However, in early March, the decline in NZD / USD stopped, and in the last 3 days the pair rose sharply, reaching 0.6300 at the beginning of today's European session.

    On Tuesday, representatives of the G7 promised to use all the necessary tools to protect their economies from the risks associated with the outbreak of coronavirus, and the Fed unexpectedly lowered the interest rate by 0.50%. “The fundamental economic indicators of the United States remain strong. Nevertheless, coronavirus poses a growing risk for economic activity”, the central bank said. “The Committee (the Federal Reserve for Open Market Operations) is closely monitoring developments and their potential impact on economic prospects. intending to use their tools and act accordingly to support the economy".

    In March, the Fed, the ECB, the Bank of Japan, the Bank of England, the National Bank of Switzerland, and the RB of New Zealand will hold their next meetings on monetary policy, and today the Bank of Canada will decide on the rates.

    He will probably also follow the example of the Fed and lower the interest rate. A meeting of the Reserve Bank of New Zealand is scheduled for March 25. The bank is likely to lower its key interest rate, and it is possible to lower it by 0.50%. However, a more significant role in the dynamics of NZD will be played by the state of world stock markets.

    If the growth of stock indices continues, then, accordingly, commodity currencies, in particular, NZD, will continue to strengthen.

    OsMA and Stochastic indicators on the 1-hour, 4-hour, daily charts of the pair NZD / USD turned to long positions. In case of continued growth of NZD / USD, the target will be the resistance level of 0.6500 (EMA200 on the daily chart).

    Below this level of resistance, negative long-term dynamics still prevail, and a return to the zone below the level of 0.6300 (EMA200 on the 1-hour chart) will cause a resumption of the decline in NZD / USD.

    In this case, the targets will be the support levels of 0.6260 (September 2015 lows and the Fibonacci level 0% of the correction in the global wave of pair decline from the level of 0.8820), 0.6205 (September lows), 0.6190 (local multi-year lows).

    Support Levels: 0.6260, 0.6200, 0.6100

    Resistance Levels: 0.6300, 0.6322, 0.6378, 0.6406, 0.6485, 0.6505, 0.6600, 0.6635, 0.6665, 0.6740, 0.6830, 0.6865


    Trading Scenarios


    Sell Stop 0.6290. Stop-Loss 0.6325. Take-Profit 0.6260, 0.6200, 0.6100

    Buy Stop 0.6325. Stop-Loss 0.6290. Take-Profit 0.6378, 0.6406, 0.6485, 0.6505, 0.6600, 0.6635, 0.6665, 0.6740, 0.6830, 0.6865

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  12. TifiaFX

    TifiaFX Member

    Brent: prices remain vulnerable

    05/03/2020


    The price of oil continues to decline. It is likely that until a final turning point in the global stock market occurs, commodity prices, including oil, will remain under pressure with a tendency to further decline.

    Today, oil market participants will be waiting for the first results of the OPEC+ coalition meeting. The positive outcome of the meeting may be the first step towards the restoration of the oil market.

    At the same time, lower interest rates by global central banks can help the global economy deal with the impact of a coronavirus outbreak. This will also positively affect oil quotes.

    Investors expect the OPEC+ coalition to further reduce production to stabilize the oil market. At the same time, the exact amount of a possible additional decline in production, which is 1.7 million barrels per day, is not yet clear.

    If the parties cannot agree on significant volumes of production cuts, then the positive effect of the meeting in Vienna will be short-lived.

    In case of breakdown of the support level of 50.00 (Fibonacci level 61.8% of downward correction in the wave of price growth from a level near the level of 27.10 to the highs of October 2018 near the level of 86.60 dollars per barrel), the nearest targets will be support levels of 49.00 (local minimum), 48.00 (lower downward channel border on the daily chart).

    Only a breakdown of the key resistance level of 62.00 (EMA200 on the daily chart) will again make long positions relevant. Below this resistance level, long-term negative dynamics prevail.

    Support Levels: 50.00, 49.00, 48.00

    Resistance Levels: 53.50, 54.30, 56.90, 58.50, 60.40, 62.00


    Trading Recommendations


    Sell by market. Stop-Loss 54.40. Take-Profit 50.00, 49.00, 48.00

    Buy Stop 54.40. Stop-Loss 51.90. Take-Profit 56.20, 56.90, 58.50, 60.40, 61.80

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  13. TifiaFX

    TifiaFX Member

    EUR/USD: panic?

    06/03/2020


    Increased fears of a coronavirus pandemic plummeted global stocks at the start of today's European session. The DXY dollar index fell below 96.00, and the yield on 10-year US bonds fell by almost 18%, to 0.723%, to historical lows.

    The growth of almost panic investor sentiment was facilitated by information on the penetration of coronavirus into the United States. EUR / USD updated the highs of July 2019, breaking through the psychologically significant resistance level of 1.1300, and reached the first critical resistance level of 1.1340 at the beginning of today's European session (EMA144 on the weekly chart). If the growth of EUR / USD does not stop, then the pair can reach the key resistance level of 1.1440 (EMA200 on the weekly chart), the breakdown of which can signal the breaking of the long-term bearish trend of EUR / USD.

    Last Tuesday, the Fed unexpectedly lowered the interest rate by 0.50%, substantiating its decision with the need for preventive measures to maintain the American economy, which, according to Fed leaders, remains strong. The next Fed meeting will be held on March 18, and it is possible that the rate will be reduced again. By the way, US President Donald Trump after the Fed lowered the rate on Tuesday again called on the Fed to lower the interest rate even lower, down to 0%. “They (the Fed) are acting belatedly”, Trump said, but should, in his opinion, act ahead of events.

    Today, volatility in the financial markets may rise again at 13:30 (GMT), when data from the US labor market will be published. Strong data expected.

    Nevertheless, even if the data are confirmed or turn out to be better than expected (NFP is expected to grow by 175,000 new jobs), one should not expect a significant strengthening of the dollar and a fall in EUR / USD.

    The fall of European stock indices leaves the euro, which is the funding currency, no chance of weakening.

    In the current situation of growth of already almost panic moods, it makes no sense to expect a quick recovery of world stock indices. Technical analysis fades into the background.

    And, nevertheless, you can’t completely forget about the alternative scenario. The first signal to start the correctional decline will be the breakdown of support levels 1.1285 (Fibonacci level 23.6% of upward correction to the fall of the pair from 1.3870 in May 2014 to 1.0480 reached in March 2015), 1.1240 (ЕМА200 on the 5-minute price chart and highs of December 2019).

    However, only the return of EUR / USD to the zone below the key support level of 1.1100 (EMA200 on the daily chart) will reassure investors and create the prerequisites for the pair to sell.

    Support Levels: 1.1300, 1.1285, 1.1240, 1.1205, 1.1100

    Resistance Levels: 1.1340, 1.1400, 1.1440


    Trading Recommendations


    Sell Stop 1.1275. Stop-Loss 1.1330. Take-Profit 1.1240, 1.1205, 1.1100

    Buy Stop 1.1330. Stop-Loss 1.1275. Take-Profit 1.1340, 1.1400, 1.1440

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  14. TifiaFX

    TifiaFX Member

    GBP/USD: the pound may also be under pressure

    10/03/2020


    After sharp movements in the financial and commodity markets on Monday, caused by the collapse of stock indices and oil prices, a pullback occurs on Tuesday, although markets are still far from complete stabilization. It is possible that everything is just beginning and the worst is to come. Last Friday, OPEC and Russia were unable to reach an agreement to reduce oil production. In response to the failure of the deal, Saudi Arabia has lowered the selling price of oil and is going to increase the supply. The price war in the oil market may negatively affect other markets.

    Negative sentiment prevails in the markets, triggered by investor fear over the coronavirus and price war, which could erupt in the oil market. Investors are forced to sell the dollar and risky assets, going into defensive assets such as yen, gold, government bonds. Yields on 10-year US bonds fell on Monday to 0.342%, the absolute minimum, and gold quotes last Monday exceeded $ 1,700.00 an ounce, although they subsequently declined to $ 1,680.00 an ounce. The dollar fell especially significantly against European currencies and the yen.

    At the beginning of today's European session, GBP / USD is trading near 1.3050, while the dollar is gradually winning back the positions it lost on Monday, although it remains vulnerable on the eve of the Fed meeting on March 17-18.

    GBP / USD continues to trade in the zone above the important support level of 1.2860 (ЕМА200 on the daily chart). In case of breakdown of the resistance levels 1.3210 (Fibonacci level 23.6% of the correction to the reduce of the GBP / USD in the wave that began in July 2014 near the level of 1.7200), 1.3310 (EMA200 on the weekly chart) GBP / USD will resume the upward trend and head towards the levels resistance 1.3960 (Fibonacci level 38.2%), 1.4350 (highs of 2018), which will talk about breaking the bearish trend GBP / USD.

    The first signal for the implementation of an alternative negative scenario will be a breakdown of the short-term support level of 1.2965 (ЕМА200 on the 4-hour and 1-hour charts). The reduction targets are located at the support levels of 1.2735 (lows of March), 1.2590 (lows of May 2019 and the lower border of the descending channel on the daily chart), 1.2400, 1.2200 (lows of October), 1.2000 (lows of 2019 and the Fibonacci level of 0%).

    Bank of England future manager Andrew Bailey said last week that the central bank could take stimulus measures before the scheduled meeting (March 26) if it considers that the economy urgently needs support in the wake of the coronavirus epidemic. Many economists expect the UK central bank to lower its key interest rate to 0.5% from 0.75% this month. This may adversely affect pound quotes. If the Bank of England favors a further reduction in the interest rate, then the pound, which for the time being remains stable, may weaken sharply.

    Support Levels: 1.3000, 1.2965, 1.2860, 1.2735, 1.2590, 1.2400, 1.2200, 1.2000

    Resistance Levels: 1.3069, 1.3210, 1.3310, 1.3510, 1.3960


    Trading Scenarios


    Sell Stop 1.2955. Stop-Loss 1.3075. Take-Profit 1.2860, 1.2735, 1.2590, 1.2400, 1.2200, 1.2000

    Buy Stop 1.3075. Stop-Loss 1.2955. Take-Profit 1.3210, 1.3310, 1.3510, 1.3960

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  15. TifiaFX

    TifiaFX Member

    AUD/USD: “gloomy” prospects

    11/03/2020


    Financial markets continue to be in a fever amid growing coronavirus epidemics and the risks of a significant slowdown in the global economy. Another negative factor unexpectedly added to the coronavirus factor last Friday, when the OPEC+ coalition practically collapsed. Russia and Saudi Arabia could not agree on a further reduction in oil production and export. Oil prices crashed down. They were followed by global stock indices and other commodity prices.

    Last Monday, at the beginning of the trading day, the AUD / USD pair broke through the multi-year support level of 0.6435 for a short time (11-year low and Fibonacci level 0% of the correction to the decline wave, which began in July 2014 from 0.9500). And although AUD / USD subsequently rose, reaching an intraday high of 0.6680, the pair resumed its decline on Tuesday.

    In early March, the Reserve Bank of Australia lowered its key rate by 25 basis points to a record low of 0.5%, which was the fourth rate cut in less than a year. “Ready for further easing of monetary policy”, the RBA said.

    The Australian government is now preparing to announce fiscal stimulus measures in response to the economic damage from the epidemic. It seems increasingly likely that, because of the coronavirus, Australia's economy could go into recession for the first time in 28 years.

    The prospects for the Australian dollar look depressing, given the sharp drop in commodity prices, including coal, oil and petroleum products, and iron ore, the main commodities of Australian commodity exports.

    At the beginning of today's European session, the AUD / USD pair is trading near the 0.6525 mark, falling from an intraday high of 0.6535 reached earlier. With any upward correction of AUD, you should probably look for opportunities to enter short positions, including in the AUD / USD pair. Although, entering in the short positions "by the market" is likely to be appropriate too.

    Below the key resistance level of 0.6830 (EMA200 on the daily chart), the downward global trend of AUD / USD prevails.

    In the current situation and below the resistance level of 0.6655 (ЕМА200 on the 4-hour chart), only short positions should be considered.

    Support Levels: 0.6500, 0.6435, 0.6400, 0.6310

    Resistance Levels: 0.6575, 0.6655, 0.6700, 0.6755, 0.6790, 0.6830


    Trading Recommendations


    Sell Stop 0.6480. Stop-Loss 0.6580. Take-Profit 0.6435, 0.6400, 0.6310

    Buy Stop 0.6580. Stop-Loss 0.6480. Take-Profit 0.6600, 0.6655, 0.6700, 0.6755, 0.6790, 0.6830

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  16. TifiaFX

    TifiaFX Member

    EUR/USD: contradictory dynamics

    12/03/2020


    Today, investors will follow the ECB meeting, which will end with the publication at 12:45 (GMT) of the decision on interest rates. At 13:30 a press conference of the ECB will begin, during which the head of the ECB Christine Lagarde will explain the decision of the bank, assess the prospects of the European economy and, probably, touch on further plans for the monetary policy of the bank, as well as answer questions from journalists.

    Earlier this month, 4 of the world's largest central banks (RB of Australia, Bank of Canada, Fed, Bank of England) reduced interest rates. The Fed, the Bank of Canada and the Bank of England took unprecedented measures by cutting the interest rate by 0.50%, and the Fed and the Bank of England did this during an extraordinary meeting.

    The ECB is also expected to expand the stimulus package and lower the key interest rate, which is already in negative territory, at -0.5%.

    The markets are dominated by fear of the global coronavirus pandemic. Many global stock indices have already moved to the side of the bear market.

    At the beginning of this week, the EUR / USD pair briefly exceeded the key resistance level 1.1440 (EMA200 on the weekly chart), which separates EUR / USD from the bullish trend.

    At the beginning of today's European session, EUR / USD is traded near 1.1230, below the important short-term support level of 1.1240 (EMA200 on the 1-hour chart), indicating a tendency to further decline.

    Above the important support level 1.1120 (ЕМА200 on the daily chart), the upward trend prevails. The return of EUR / USD into the zone above the level of 1.1240 will be a signal for the resumption of long positions, although probably the most cautious investors will prefer to stay out of the market today.

    Support Levels: 1.1240, 1.1205, 1.1120, 1.1080

    Resistance Levels: 1.1285, 1.1340, 1.1400, 1.1440, 1.1490


    Trading Recommendations


    Sell by market. Stop-Loss 1.1290. Take-Profit 1.1205, 1.1120, 1.1080

    Buy Stop 1.1310. Stop-Loss 1.1220. Take-Profit 1.1340, 1.1400, 1.1440, 1.1490

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  17. TifiaFX

    TifiaFX Member

    DJIA: further decline is not ruled out

    13/03/2020


    Despite the correction of world stock indices observed today, it is still too early to start their purchases. The markets are dominated by investors' fears about the spread of coronavirus in the world and the slowdown of the global economy. World and US stock indices show the strongest decline over the past few years. Just 4 weeks ago, the DJIA was trading near the absolute maximum 29528.0. However, the collapse of the DJIA index crossed out almost all of its 3-year growth.

    Donald Trump for 30 days banned the entry into the United States from Europe due to the coronavirus, which raised new concerns about the economic impact of the coronavirus.

    A number of the world's largest central banks have taken a sharp decline in interest rates, with the Fed and the Bank of England cutting interest rates by 50 bp at once during their extraordinary meetings.

    “Coronavirus poses a growing risk for economic activity”, the US Central Bank said.

    Next week (March 17 - 18), the Fed will hold its next scheduled meeting. Investors and economists believe that the Fed will again lower the interest rate at this meeting, dropping it by another 50 bp to the level of 0.75%. Last week, when the Fed unexpectedly cut the rate by 0.50%, Donald Trump urged the Fed to lower it to zero.

    Such a decision by the Fed could support the US stock market. However, to say that the worst is over is still too early. The spread of coronavirus in the world does not stop, covering all new regions.

    The market is dominated by pessimistic sentiment, which can again bring down stock indices to new local lows.

    At the beginning of today's European session, the DJIA is trading near the level of 22200.0, trying to adjust to the area above the level of 22520.0 (Fibonacci level 23.6% of the correction to the DJIA growth wave, which began in February 2016 from 15500.0). But you should still refrain from shopping.

    A further index decline to the support levels 20850.0 (Fibonacci level 61.8%), 20400.0 (local lows and ЕМА144 on the monthly chart), 19700.0 (EMA200 on the monthly chart) is not ruled out.

    The first signal for DJIA purchases may be its growth into a zone above the resistance levels 24150.0 (ЕМА200 on the weekly chart and the Fibonacci level 38.2%), 24400.0 (ЕМА200 on the 1-hour chart).

    In case of negative developments, a breakdown of the support level of 19700.0 can break the DJIA long-term bullish trend.

    Support Levels: 20850.0, 20400.0, 19700.0

    Resistance Levels: 22520.0, 24150.0, 24400.0, 25200.0, 26220.0, 27200.0, 28160.0, 28630.0, 28840.0, 29528.0


    Trading Scenarios


    Buy Stop 22600.0. Stop-Loss 21600.0. Take-Profit 24150.0, 24400.0, 25200.0, 26220.0, 27200.0

    Sell Stop 21600.0. Stop-Loss 22600.0. Take-Profit 20850.0, 20400.0, 19700.0

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  18. TifiaFX

    TifiaFX Member

    Brent: fall continues

    16/03/2020


    Having exceeded the limit of restrictions in the electronic trading system by 5%, at the opening of the trading day on Monday, futures for the US S&P 500 index fell to around 2568.0. Probably, at the opening of the American trading session, US stock indices will also begin with a sharp drop.

    Last Sunday, the Fed held another emergency meeting and cut rates, this time by 100 bp, to a range of 0% - 0.25%, and also announced the allocation of $ 700 billion for the purchase of US government bonds and securities with a mortgage cover.

    Global stock indices also continued to decline on Monday. The Australian S&P/ASX 200 fell by a record 9.7%, ending the session about 30% below the peak reached less than a month ago.

    The British FTSE 100 in London fell another 7.5% after falling at the opening of electronic trading on Monday by 5%, the European Stoxx Europe 600 at the opening of trading fell by 4.7%. Indices of Hong Kong, Shanghai, South Korea and Japan fell by more than 3%.

    Investors no longer pay attention to the Fed and are waiting for the actions of the federal authorities - more serious support to the economy. In the US, government measures may include tax cuts, direct payments to households, earmarked funding, increased federal spending, and other measures.

    According to Jerome Powell, Chairman of the US Federal Reserve System, when the Fed decided to lower the rate last Sunday, one of the factors that influenced the central bank’s decision to soften its monetary policy was a sharp drop in oil prices.

    WTI oil futures are trading at the beginning of today's European session at a price below $ 30.00 per barrel. Brent oil contracts also traded lower.

    Oil market analysts believe that the unexpected increase in oil production due to the severance of partnership between Russia and OPEC, as well as the escalation of the price war between Russia and Saudi Arabia, will increase pressure on quotes, which threatens to reduce them further.

    Last week, Saudi Arabia offered buyers from Europe some grades of oil at a price of $25 per barrel.

    Brent crude declined on Monday to around 30.50. Probably, the fall in prices may continue.

    At the beginning of today's European session, Brent crude is trading at $30.60 a barrel.

    Technical indicators OsMA and Stochastic are on the side of the sellers on the 4-hour, daily, weekly, monthly charts, signaling the likelihood of a further price decline.

    If the decline continues, then very soon it will be possible to see Brent oil near the price level of $27.00 per barrel. So low oil has not been traded since the end of January 2016, when it reached local multi-year lows.

    In an alternative scenario, if the correction starts and after the breakdown of the local resistance level of 40.00 (EMA200 on the 1-hour chart), prices will rise to recent lows of 46.00 - 50.00 dollars per barrel. But only a breakdown of the key resistance level of 60.00 (EMA200 on the daily chart) will resume the bullish trend. Below this level of resistance, long-term negative dynamics prevail. Short positions are preferred.

    Support levels: 30.00, 29.00, 28.00, 27.00

    Resistance levels: 40.00, 46.00, 50.00, 53.50, 54.30, 56.90, 58.50, 60.00, 62.00


    Trading Recommendations


    Sell by market. Stop-Loss 33.60. Take-Profit 30.00, 29.00, 28.00, 27.00

    Buy Stop 33.60. Stop-Loss 29.90. Take-Profit 40.00, 46.00, 50.00, 53.50, 54.30, 56.90, 58.50, 60.00, 61.00

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  19. TifiaFX

    TifiaFX Member

    AUD/USD: we expect further fall of the pair

    17/03/2020


    The pair AUD / USD updated on Tuesday the almost 12-year low, which is near the level of 0.6010, and continues to decline in the first half of the trading day.

    The Australian dollar continues to fall amid growing investor fears about the coronavirus pandemic and the strengthening of the US dollar, as well as expectations of the next reduction in the interest rate of the RBA at an emergency meeting on Thursday.

    The RBA lowered interest rates during the March meeting and is expected to lower them again at an extraordinary meeting on Thursday March 19, while introducing additional measures. Investors expect further action from the RBA, given in the quotes lowering rates by 0.25% and QE.

    At the same time, the US dollar is likely to continue to be in demand amid stress on global financial markets, despite another urgent Fed rate cut of 100 bps last Sunday. Investors are waiting for governments to strengthen fiscal stimulus measures.

    In this regard, the fall of AUD / USD below 0.6000 is probably inevitable. Assuming a further fall in AUD / USD the next target will be the support level of 0.4780 (lows of 2001).

    In the current situation and below resistance levels of 0.6360 (EMA200 on the 1-hour chart), 0.6435 (the recent 11-year low and the Fibonacci level 0% of the correction to the decline wave, which began in July 2014 from 0.9500), only short positions should be considered.

    Support Levels: 0.6010, 0.5490

    Resistance Levels: 0.6310, 0.6360, 0.6435, 0.6560, 0.6655, 0.6700, 0.6740, 0.6790


    Trading Recommendations


    Sell by market. Stop-Loss 0.6150. Take-Profit 0.5900, 0.5800, 0.5700, 0.5600, 0.5500

    Buy Stop 0.6150. Stop-Loss 0.6000. Take-Profit 0.6310, 0.6360, 0.6435

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com
  20. TifiaFX

    TifiaFX Member

    WTI: prices are falling rapidly

    18/03/2020


    At the end of today's Asian session, WTI crude oil broke through the psychologically important support level of 26.00, updating the 4-year low. At the beginning of the European session on Wednesday, WTI oil

    was traded near $25.30 a barrel, the new local low since February 2016. This is 295% below the local maximum of October 2018, when WTI crude oil was traded near the level of 76.80 dollars per barrel. Over the past 3 incomplete months, WTI crude oil has fallen in price by 235%, collapsing from 61.25.

    The aggravating investor pessimism associated with the coronavirus pandemic is pushing global stock indices and commodity prices, including oil, towards multi-year lows.

    According to media reports, Saudi Aramco confirmed the intention of Saudi Arabia to increase production to a maximum level of 12 million barrels per day. Last week, Saudi Arabia offered buyers from Europe some grades of oil at a price of $25 per barrel. An increase in production a week earlier was also reported in Kuwait and Iraq. Russia also intends to increase oil production from April, when the deal between Russia and OPEC finally ceases to operate, Bloomberg reported.

    Most likely, oil market participants are selling oil futures, given in quotes the upcoming sharp increase in supply. It is possible that oil may continue to decline until the price "finds" new levels of support.

    Today, oil market participants will pay attention to the publication (at 14:30 GMT) of the weekly data of the Energy Information Administration (EIA) of the US Department of Energy. The data is expected to indicate an increase of 3.256 mln barrels of oil in the US last week after an increase of 7.664 mln barrels in the previous weekly reporting period. This will only increase pressure on oil quotes.

    A stronger dollar is also a negative factor for oil prices.

    The DXY dollar index, which reflects the value of the US dollar against a basket of 6 other major currencies, is at 100.15 in the first half of today's trading day, near an almost 3-year high.

    A strong negative impulse prevails, pushing oil quotes down. In the same time,

    the most cautious investors are likely to prefer to stay out of the heavily oversold market for now. But for those who want to take a chance, as always - our trading recommendations:


    Trading Recommendations

    Sell by market. Stop-Loss 34.10. Take-Profit 25.00, 24.00, 23.00, 20.00

    Buy Stop 34.10. Stop-Loss 24.90. Take-Profit 36.20, 42.15, 43.00

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    *) For up-to-date and detailed analytics and news on the forex market visit Tifia Forex Broker website tifia.com

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