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

• Japanese Trade Balance: The Japanese Trade Balance for February was reported at ¥339.4B. Economists predicted a figure of ¥310.1B. Forex traders can compare this to the Japanese Trade Balance for January which was reported at -¥1,416.3B. The Japanese Adjusted Trade Balance for February was reported at ¥1,201.7B. Economists predicted a figure of ¥900.1B. Forex traders can compare this to the Japanese Adjusted Trade Balance for January which was reported at -¥290.4B. Exports for February decreased by 1.2% annualized and Imports decreased by 6.7% annualized. Economists predicted a decrease of 0.9% and of 5.8%. Forex traders can compare this to Exports for January which decreased by 8.4% annualized and to Imports which increased by 0.8% annualized.
• UK Rightmove House Prices: UK Rightmove House Prices for March increased by 0.4% monthly and decreased by 0.8% annualized. Forex traders can compare this to UK Rightmove House Prices for February which increased by 0.7% monthly and by 0.2% annualized.
• New Zealand Non Resident Bond Holdings: New Zealand Non Resident Bond Holdings for February were reported at 55.2%. Forex traders can compare this to New Zealand Non Resident Bond Holdings for January which were reported at 54.1%.
• Japanese Industrial Production and Capacity Utilization: Final Japanese Industrial Production for January decreased by 3.4% monthly and increased by 0.3% annualized. Forex traders can compare this to previous Japanese Industrial Production for January which decreased by 3.7% monthly and which was reported flat at 0.0% annualized. Capacity Utilization for January decreased by 4.7% monthly. Forex traders can compare this to Capacity Utilization for December which decreased by 1.9% monthly.
• Eurozone Trade Balance: The Eurozone Trade Balance for January is predicted at €15.0B. Forex traders can compare this to the Eurozone Trade Balance for December which was reported at €15.6B.
• US NAHB Housing Market Index: The US NAHB Housing Market Index for March is predicted at 63. Forex traders can compare this to the US NAHB Housing Market Index for February which was reported at 62.

Should price action for Gold remain inside the or breakout above the 1,298.00 to 1,310.00 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,303.50
• Take Profit Zone: 1,350.80 – 1,365.80
• Stop Loss Level: 1,290.00

Should price action for Gold breakdown below 1,298.00 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,293.25
• Take Profit Zone: 1,276.30 – 1,280.60
• Stop Loss Level: 1,298.00

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