Markets News 

CFTC insists ex-UBS trader knowingly engaged in “spoofing”

“The CFTC Complaint details nine specific examples that are illustrative of the pattern described above” reports financefeeds.com. Less than a month after ex-UBS precious metals trader Andre Flotron filed a motion to dismiss the “spoofing” case against him, the Commodity Futures Trading Commission (CFTC) has sought to nix his objections.Let’s recall that the CFTC alleges that Andre Flotron engaged in a five-year manipulative and deceptive scheme to trick other traders in the precious metals futures market. Source: financefeeds.com Share This:

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EUR/USD Bulls Resurface in US Trading

“EUR/USD pared early day losses during the U.S. and European overlap on Tuesday, after briefly trading below the 1.1700 handle” writes Jignesh Davda for investopedia.com. For the inversely correlated U.S. dollar index, support is seen at 94.10.The pair has been weighed down by a stronger dollar since Monday but has erased the bulk of today’s early day losses and has held above support. Source: investopedia.com Share This:

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Major currencies in holding pattern ahead of US tariff deadline, jobs data 

“The United States is due to begin collecting tariffs on $34 billion in Chinese goods at 0401 GMT on Friday” writes unknown author for cnbc.com. Major currencies trod water early on Friday as investor caution prevailed ahead of Washington’s implementation of its threatened tariffs on Chinese goods and the U.S. jobs report due later in the day.”As Wall Street’s gains have shown, the markets have been able to price in the tariff implementation for the most part.But there is always the risk of President Trump tweeting something out of the…

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Facebook still evasive over Cambridge Analytica and fake news: UK lawmakers

“LONDON (Reuters) – Facebook is continuing to be evasive in its answers to a British parliamentary committee examining a scandal over misuse of the social media company’s data by Cambridge Analytica, the committee’s chair said on Friday” writes Midwest Communications Inc for 95kqds.com. Britain’s digital and media committee is examining fake news, and what the consultancy, employed by Donald Trump’s 2016 U.S. presidential campaign, did with the Facebook data, which was improperly obtained.Cambridge Analytica said it deleted the data when asked and did not use it in Trump’s campaign. Source: 95kqds.com…

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EOS Price Prediction: EOS/USD holding onto 2% gains on Monday, however another drop may just be round the corner

“The EOS price managed to receive a decent amount of buying, after the heavy sell-off seen across the market from Friday to Sunday” writes Fx Street for forexcrunch.com. During the session on Monday, EOS was seen holding decent gain of just above 2%.EOS/USD dropped to its lowest levels over the weekend, seen since April earlier this year, after a large drop was seen for most of the cryptocurrencies, moving in tandem.Technically, EOS/USD looks potentially subject to a breakout to the downside from current levels, a rising wedge pattern is seen…

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Crypto News 

Bitcoin Cash Price Analysis: BCH/USD jumps over 5% in the late afternoon on Wednesday, as price bounces off support within broadening wedge pattern, $1000 looming

“BCH/USD was able to receive decent support at the lower trend line of the broadening wedge pattern, seen on the 60-minute time frame” writes Fx Street for forexcrunch.com. Support is seen at $885, 50MA and then $860 the lower part of the wedge pattern, also where the 100MA tracks.The Bitcoin Cash price made a jump of around 5%, in the later stages of afternoon trading on Wednesday.Over this week so far, price action has formed a broadening wedge pattern, subject to a breakout, which will likely to Bitcoin Cash out…

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EOS/USD Price Analysis: EOS/USD continues to form bull flags, suggesting of a larger decent rally higher to come

“The EOS price was seen down 1.5% in late trading on Wednesday, as the price remains contained within a bull flag formation, subject to an extended move to the upside” writes Fx Street for forexcrunch.com. EOS/USD had a surge from the bulls on Monday, where the price printed highs at $11.64, before running out of steam, in a touted supply zone.Technically, given the above-mentioned pattern, price behaviour suggest of another bout of bull dominance. Eyes will be on for a retest of the highs seen on Monday at $11.64, where…

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NEO Price Analysis: NEO/USD jumps around 8% within an hour, but upside capped by resistance just above $40.50

“NEO price action has formed a bearish pennant pattern, as can be seen on the 4-hour chart view” writes Fx Street for forexcrunch.com. The NEO price was seen up 2.5% in the latter stages of trading on Monday, after starting the session slow within negative territory.It would be key to see a break from the mentioned pennant pattern, the upper resistance seen at $40.90, a move north and close above this would cancel out the textbook technical.NEO/USD has staged a rebound, after a decent bounce of the lows at $35.80…

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Bitcoin Cash Price Prediction: BTC/USD under renewed pressure, slips through 50MA and catches support at within wedge pattern

“The Bitcoin Cash price was on the back foot on Friday, since retesting in an attempt to break back within an ascending channel pattern” writes Fx Street for forexcrunch.com. The key near-term level to be aware of, seen at $1085 where Friday’s session lows were printed, this is also the lower part of the wedge pattern.Technically, given the recent breakout to the downside from the rising channel and now with recent price action forming a ascending wedge, BCH/USD does appear vulnerable. To see some decent bull momentum, the price needs…

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