Entering text into the input field will update the search result below

OPEC Deal Sends Energy Stocks Higher; Gold Falls By 1.4%

Dec. 01, 2016 2:47 AM ET
Orbex profile picture
Orbex's Blog
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Gold & Precious Metals, Currencies

Seeking Alpha Analyst Since 2016

Orbex – Serving Traders Responsibly

Established in 2011, Orbex was founded with a mission to serve its traders responsibly. And with that in mind, Orbex works diligently to provide its traders with access to the world’s largest and most liquid financial markets. The company offers multiple trading assets, including forex, indices, commodities, metals and stock CFDs, as well as highly competitive trading conditions and access to tier-1 bank liquidity. With a diligent customer support team to answer your every query, and a focus on research, analysis and enhanced security of client funds, Orbex upholds a reputation of seasoned expertise within the industry.

Innovation at Every Turn

A market leader in innovation and customer service, Orbex offers its traders highly competitive trading conditions, with fast execution of under 0.03 seconds per order, spreads starting from 0.0 pips, free VPS and leverage up to 1:500.

This is in addition to an advanced selection of trading tools available on the industry’s favourite trading platform, MT4, both on desktop and mobile and for users of Windows, Mac, Android, and iOS.

Traders can also benefit from daily trading signals and technical analysis reports via Trading Central, as well as the broker’s award-winning research team via the Orbex blog and social media channels. Investors of all trading styles are welcome, including scalpers, hedgers and fans of automated trading who can also select from a wide range of Expert Advisors, or create their own thanks to Orbex’s platform supporting fast EA development. With over 20 native support languages to assist you, an automated chat bot system to streamline response times, a robust FAQ center and a highly trained team of support specialists available 24/5, no matter your trading query, Orbex sets an industry example for stellar customer service and support. Click here to get in touch with Orbex.

Trusted and Regulated

Not only is Orbex a trusted and award-winning broker, but it is also fully licensed by the Mauritius Financial Services Commission (FSC). Adhering to the strictest international regulations, Orbex has worked hard to consolidate its reputation as a trusted broker in the industry. This means offering their traders a secure trading experience, which includes but is not limited to, clients' funds segregation and the strict protection of data and personal information. When you combine this with the company's philosophy that encourages informed and responsible trading , and its status as an established source of valuable information, Orbex really stands out as the shining example of what it means to be a reliable broker.

Education is Key

Boasting an award-winning team of local and international investment researchers, Orbex focuses on offering traders of all levels the educational tools necessary to accompany every stage of their trading journey. From daily fundamental and technical analysis, to webinars, e-books, podcasts, videos and weekly reports, Orbex provides excellent educational material to suit every trader's needs. A leading provider in Elliott Wave research, Orbex analysis is frequently featured across global financial outlets, including Bloomberg, Refinitiv Eikon, and CNBC.

Learn more about Orbex at https://www.orbex.com/en/

Daily Forex Market Preview, 01/12/2016

OPEC leaders agreed yesterday to curb production by 32.5 million barrels, formalizing the Algiers Accord. The agreement sent oil prices shooting up by over 9% on the day leading energy stocks higher as well. Gold prices fell by over 1.4% in yesterday's trading session and down by over 8.4% on the month in November as prices fell to a fresh 9-month low. On the economic front, the U.S. dollar got a boost with a solid ADP payrolls print yesterday as it sets the stage for tomorrow's nonfarm payrolls report.

EURUSD Intra-day Analysis

EURUSD (1.0607): EURUSD fell to below 1.0600 support yesterday as noted and prices could be seen pushing higher in the near term if the support at 1.0600 holds. On the intraday charts, EURUSD is seen trading flat within 1.0700 resistance and 1.0500 support level. A breakout from either of these two levels is required to establish further trend continuation in the near term. The downside risks remain towards 1.0500, while above the resistance of 1.0700, prices could be seen rising to 1.0800.

USDJPY Daily Analysis

USDJPY (114.00): USDJPY's gains towards 114.00 resistance were realized yesterday and from this resistance the scope for a decline to 108.00 increases even more. Following yesterday's strong performance, which saw USDJPY rising over 1.85%, today's daily close will be of importance as price trades near this key resistance level. A reversal here could send the dollar lower in the near term, while a continuation could see USDJPY rise towards 118.00 which is the next main level of importance.

XAUUSD Intra-day Analysis

XAUUSD (1175.04): Gold prices fell sharply yesterday in today's session testing the lows of 1162. On the 4-hour chart, we see prices being supported by the trend line which could signal the potential to the upside. 1200.00 now turns to a key resistance level, and a breakout above this level is essential to ascertain further gains. To the downside, the next psychological support at 1150 is not too far away and could pose a risk of a decline to this level.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.