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

• Bank of Japan Interest Rate Decision: The Bank of Japan Interest Rate Decision decide to keep interest rates at -0.10%. Forex traders can compare this to the previous Bank of Japan Interest Rate Decision where interest rates were left unchanged at -0.10%.
• EU 25 New Car Registrations: EU 25 New Car Registrations for May increased by 7.6% monthly. Forex traders can compare this to EU 25 New Car Registrations for April which decreased by 6.6% monthly.
• Eurozone Labor Costs: Eurozone Labor Costs for the first-quarter increased by 1.5% annualized. Forex traders can compare this to Eurozone Labor Costs for the fourth-quarter which decreased by 1.5% annualized.
• Eurozone CPI and Eurozone Core CPI: The Eurozone CPI for May decreased by 0.1% monthly. Economists predicted a decrease of 0.1% monthly. Forex traders can compare this to the Eurozone CPI for April which increased by 0.4% monthly. The Final Eurozone CPI for May increased by 1.4% annualized and the Eurozone Core CPI increased by 1.0% annualized. Economists predicted an increase of 1.4% annualized and of 0.9% annualized. Forex traders can compare this to the previous Eurozone CPI for May which increased by 1.9% annualized and to the Eurozone Core CPI which increased by 0.9% annualized.
• Canadian International Securities Transactions: Canadian International Securities Transactions for April are predicted at C$12.14B. Forex traders can compare this to Canadian International Securities Transactions for March which were reported at C$15.13B.
• US Housing Starts and Building Permits: US Housing Starts for May are predicted to increase by 4.1% monthly to 1,220K starts and Building Permits are predicted to increase by 1.7% monthly to 1,250K permits. Forex traders can compare this to US Housing Starts for April which decreased by 2.6% monthly to 1,172K starts and to Building Permits which decreased by 2.5% monthly to 1,228K permits.
• Labor Market Conditions Index Change: The Labor Market Conditions Index Change for May is predicted at 3. Forex traders can compare this to the Labor Market Conditions Index Change for April which was reported at 3.5.
• US Michigan Consumer Confidence: Preliminary US Michigan Consumer Confidence for June is predicted at 97.0. Forex traders can compare this to US Michigan Consumer Confidence for May which was reported at 97.1 The Current Conditions Index for May is predicted at 113.2 and the Expectations Index is predicted at 87.6. Forex traders can compare this to the Current Conditions Index for April which was reported at 111.7 and to the Expectations Index which was reported at 87.7.

Should price action for Gold remain inside the or breakout above the 1,254.00 to 1,258.00 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,256.00
• Take Profit Zone: 1,295.00 – 1,300.00
• Stop Loss Level: 1,242.00

Should price action for Gold breakdown below 1,254.00 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,249.00
• Take Profit Zone: 1,212.00 – 1,220.00
• Stop Loss Level: 1,258.00

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