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

• New Zealand Food Prices: New Zealand Food Prices for December decreased by 0.8% monthly. Forex traders can compare this to New Zealand Food Prices for November which decreased by 0.4% monthly.
• Japanese Money Stock M2 and Japanese Money Stock M3: Japanese Money Stock M2 for December increased by 3.6% annualized and Japanese Money Stock M3 increased by 3.1% annualized. Economists predicted an increase of 4.0% and of 3.4%. Forex traders can compare this to Japanese Money Stock M2 for November which increased by 4.0% annualized and to Japanese Money Stock M3 which increased by 3.4% annualized.
• UK Rightmove House Prices: UK Rightmove House Prices for January increased by 0.7% monthly and by 1.1% annualized. Forex traders can compare this to UK Rightmove House Prices for December which decreased by 2.3% monthly and which increased by 1.0% annualized.
• Australian Melbourne Institute Inflation Index: The Australian Melbourne Institute Inflation Index for December increased by 0.1% monthly and by 2.3% annualized. Forex traders can compare this to the Australian Melbourne Institute Inflation Index for November which increased by 0.2% monthly and by 2.7% annualized.
• Swiss Total Sight Deposits and Swiss Domestic Sight Deposits: Swiss Total Sight Deposits for the week of January 12th were reported at CHF573.8B and Swiss Domestic Sight Deposits were reported at CHF473.9B. Forex traders can compare this to Swiss Total Sight Deposits for the week of January 5th which were reported at CHF572.8B and to Swiss Domestic Sight Deposits which were reported at CHF471.4B.
• Eurozone Trade Balance: The Eurozone Trade Balance for November was reported at €22.5B. Economists predicted a figure of €22.3B. Forex traders can compare this to the Eurozone Trade Balance for October which was reported at €19.0B.

Should price action for Gold remain inside the or breakout above the 1,335.00 to 1,345.00 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,340.00
• Take Profit Zone: 1,387.00 – 1,400.00
• Stop Loss Level: 1,326.00

Should price action for Gold breakdown below 1,335.00 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,326.00
• Take Profit Zone: 1,294.00 – 1,306.00
• Stop Loss Level: 1,335.00

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