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

• Japanese National CPI: The Japanese National CPI for December increased by 0.3% annualized. Economists predicted an increase of 0.2% annualized. Forex traders can compare this to the Japanese National CPI for November which increased by 0.5% annualized. The Japanese National Core CPI for December was reported flat at 0.0% annualized. Economists predicted a decrease of 0.1% annualized. Forex traders can compare this to the Japanese National Core CPI for November which increased by 0.1% annualized. The Japanese National CPI excluding Fresh Food for December decreased by 0.2% annualized. Economists predicted an decrease of 0.3% annualized. Forex traders can compare this to the Japanese National CPI excluding Fresh Food for November which decreased by 0.4% annualized.
• Australian PPI: The Australian PPI for the fourth-quarter increased by 0.5% quarterly and by 0.7% annualized. Forex traders can compare this to the Australian PPI for the third-quarter which increased by 0.3% quarterly and by 0.5% annualized. The Export Price Index for the fourth-quarter increased by 12.4% quarterly and the Import Price Index increased by 0.2% quarterly. Economists predicted an increase of 12.1% quarterly and 0.4% quarterly. Forex traders can compare this to the The Export Price Index for the third-quarter which increased by 3.5% quarterly and to the Import Price Index which decreased by 1.0% quarterly.
• German Import Price Index: The German Import Price Index for December increased by 1.9% monthly and by 3.5% annualized. Economists predicted an increase of 1.3% monthly and of 2.7% annualized. Forex traders can compare this to the German Import Price Index for November which increased by 0.7% monthly and by 0.3% annualized.
• US Advanced GDP: The US Advanced GDP for the fourth-quarter is predicted to increase by 2.2% annualized. Forex traders can compare this to the previous US GDP for the fourth-quarter which increased by 3.5% annualized. Personal Consumption for the fourth-quarter is predicted to increase by 2.5% annualized. Forex traders can compare this to the previous Personal Consumption for the fourth-quarter which increased by 3.0% annualized. The GDP Domestic PPI for the fourth-quarter is predicted to increase by 2.1% annualized. Forex traders can compare this to the previous GDP Domestic PPI for the fourth-quarter which increased by 1.4% annualized. The Core PCE for the fourth-quarter is predicted to increase by 1.4% annualized. Forex traders can compare this to the previous Core PCE for the fourth-quarter which increased by 1.7% annualized.
• US Durable Goods Orders: US Durable Goods Orders for December are predicted to increase by 2.6% monthly and Durables Excluding Transportation are predicted to increase by 0.5% monthly. Forex traders can compare this to US Durable Goods Orders for November which decreased by 4.5% monthly and Durables Excluding Transportation which increased by 0.6% monthly. Capital Goods Orders Non-Defense Excluding Aircraft for December are predicted to increase by 0.3% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft are predicated to increase by 0.5% monthly. Forex traders can compare this to Capital Goods Orders Non-Defense Excluding Aircraft for November which increased by 0.9% monthly and Capital Goods Shipments Non-Defense Excluding Aircraft which increased by 0.2% monthly.
• US Michigan Consumer Confidence: US Michigan Consumer Confidence for January is predicted at 98.1. Forex traders can compare this to US Michigan Consumer Confidence for December which was reported at 98.1.

Should price action for Gold remain inside the or breakout above the 1,180.00 to 1,185.00 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,182.50
• Take Profit Zone: 1,300.00 – 1,305.00
• Stop Loss Level: 1,172.00

Should price action for Gold breakdown below 1,180.00 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,175.00
• Take Profit Zone: 1,120.00 – 1,125.00
• Stop Loss Level: 1,185.00

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