Here are the key factors to keep in mind today for Gold trades:

• Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of August 20th was reported at 109.2. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of August 13th which was reported at 111.7.
• Japanese Supermarket Sales: Japanese Supermarket Sales for July were reported flat at 0.0% annualized. Forex traders can compare this to Japanese Supermarket Sales for June which decreased by 1.2% annualized.
• Swiss Trade Balance: The Swiss Trade Balance for July was reported at CHF3.50B. Forex traders can compare this to the Swiss Trade Balance for June which was reported at CHF2.76B. Exports for July decreased by 1.7% monthly and Imports decreased by 1.0% monthly. Forex traders can compare this to Exports for June which decreased by 1.3% monthly and to Imports which decreased by 0.7% monthly.
• UK Public Sector Net Borrowing: UK Public Sector Net Borrowing for July was reported at -£0.8B and UK Public Sector Net Borrowing excluding Banking Groups at -£0.2B. Economists predicted a figure of £0.3B and £1.0B. Forex traders can compare this to UK Public Sector Net Borrowing for June which was reported at £5.7B and UK Public Sector Net Borrowing excluding Banking Groups which was reported at £6.2B. UK Public Finances for July were reported at -£3.9B and UK Central Government Borrowing at -£7.1B. Forex traders can compare this to UK Public Finances for June which was reported at £18.4B and UK Central Government Borrowing which was reported at £17.8B.
• German ZEW Survey and Eurozone ZEW Survey: The German ZEW Survey Current Situation for August was reported at 86.7 and the German ZEW Survey Economic Sentiment at 10.0. Economists predicted a figure of 85.2 and of 15.0. Forex traders can compare this to the German ZEW Survey Current Situation for July which was reported at 86.4 and to the German ZEW Survey Economic Sentiment which was reported at 17.5. The Eurozone ZEW Survey Economic Sentiment for August was reported at 29.3. Forex traders can compare this to the Eurozone ZEW Survey Economic Sentiment for July which was reported at 35.6.
• UK CBI Trends Total Orders and CBI Trends Selling Prices: UK CBI Trends Total Orders for August were reported at 13 and CBI Trends Selling Prices are predicted at 19. Forex traders can compare this to CBI Trends Total Orders for July which were reported at 10 and to CBI Trends Selling Prices which were reported at 9.
• Canadian Retail Sales: Canadian Retail Sales for June are predicted to increase by 0.2% monthly. Forex traders can compare this to Canadian Retail Sales for May which increased by 0.6% monthly. Canadian Retail Sales Less Autos for June are predicted to increase by 0.1% monthly. Forex traders can compare this to Canadian Retail Sales Less Autos for May which decreased by 0.1% monthly.
• US House Price Index: The US House Price Index for June is predicted to increase by 0.5% monthly. Forex traders can compare this to US House Price Index for May which increased by 0.4% monthly.
• US Richmond Fed Manufacturing Index: The US Richmond Fed Manufacturing Index for August is predicted at 10. Forex traders can compare this to the US Richmond Fed Manufacturing Index for July which was reported at 14.

Should price action for Gold remain inside the or breakout above the 1,282.00 to 1,290.00 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,286.00
• Take Profit Zone: 1,295.00 – 1,300.00
• Stop Loss Level: 1,274.00

Should price action for Gold breakdown below 1,282.00 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,278.00
• Take Profit Zone: 1,251.00 – 1,1255.00
• Stop Loss Level: 1,286.00

Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.