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

• Japanese National CPI: The Japanese National CPI for October increased by 1.4% annualized. Economists predicted an increase of 1.4% annualized. Forex traders can compare this to the Japanese National CPI for September which increased by 1.2% annualized. The Japanese National Core CPI for October increased by 0.4% annualized. Economists predicted an increase of 0.4% annualized. Forex traders can compare this to the Japanese National Core CPI for September which increased by 0.4% annualized. The Japanese National CPI Excluding Fresh Food for October increased by 1.0% annualized. Economists predicted an increase of 1.0% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for September which increased by 1.0% annualized.
• Japanese Buying Foreign Bonds and Japanese Buying Foreign Stocks/Foreign Buying Japanese Bonds and Foreigners Buying Japanese Stocks: Japanese Buying Foreign Bonds for November 16th was reported at -¥145.2B and Japanese Buying Foreign Stocks was reported at ¥245.3B. Forex traders can compare this to Japanese Buying Foreign Bonds for November 9th which was reported at ¥1,620.6B and to Japanese Buying Foreign Stocks which was reported at -¥203.9B. Foreign Buying Japanese Bonds for November 16th was reported at -¥16.1B and Foreigners Buying Japanese Stocks was reported at -¥179.2B. Forex traders can compare this to Foreign Buying Japanese Bonds for November 9th which was reported at ¥413.4B and to Foreigners Buying Japanese Stocks which was reported at ¥362.0B.
• Japanese Machine Tool Orders: Final Japanese Machine Tool Orders for October decreased by 0.7% annualized. Forex traders can compare this to previous Japanese Machine Tool Orders for October which decreased by 1.1% annualized.
• Swiss Industry and Construction Output and Swiss Industrial Output: Swiss Industry and Construction Output for the third-quarter increased by 1.1% annualized. Forex traders can compare this to Swiss Industry and Construction Output for the second-quarter which increased by 7.9% annualized. Swiss Industrial Output for the third-quarter increased by 1.4% annualized. Forex traders can compare this to Swiss Industrial Output for the second-quarter which increased by 8.3% annualized.
• Advanced Eurozone Consumer Confidence: Advanced Eurozone Consumer Confidence for November is predicted at -3.0. Forex traders can compare this to the previous Eurozone Consumer Confidence for October which was reported at -2.7.

Should price action for Gold remain inside the or breakout above the 1,224.65 to 1,229.80 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,227.50
• Take Profit Zone: 1,265.60 – 1,281.85
• Stop Loss Level: 1,211.35

Should price action for Gold breakdown below 1,224.65 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,218.45
• Take Profit Zone: 1,180.55 – 1,191.00
• Stop Loss Level: 1,229.80

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