Here are the key factors to keep in mind today for Gold trades:
- US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for March is predicted at 2.55. Forex traders can compare this to the US Chicago Fed National Activity Index for February which was reported at -0.29.
- US Existing Home Sales: US Existing Home Sales for March are predicted to decrease by 3.8% monthly to 5.30M. Forex traders can compare this to US Existing Home Sales for February which increased by 11.8% monthly to 5.51M.
Should price action for Gold remain inside the or breakout above the 1,272.75 to 1,285.10 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1,277.00
- Take Profit Zone: 1,310.50 – 1,324.20
- Stop Loss Level: 1,264.40
Should price action for Gold breakdown below 1,272.75 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1,266.90
- Take Profit Zone: 1,250.55 – 1,255.40
- Stop Loss Level: 1,272.75
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
