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

• Japanese Corporate Service Price Index: The Japanese Corporate Service Price Index for September increased by 0.3% annualized. Economists predicted an increase of 0.2% annualized. Forex traders can compare this to the Japanese Corporate Service Price Index for August which increased by 0.2% annualized.
• Australian CPI: The Australian CPI for the third-quarter of 2016 increased by 0.7% quarterly and by 1.3% annualized. Economists predicted an increase of 0.5% quarterly and of 1.1% annualized. Forex traders can compare this to the Australian CPI for the second-quarter of 2016 which increased by 0.4% quarterly and by 1.0% annualized. The RBA Trimmed Mean CPI for the third-quarter of 2016 increased by 0.4% quarterly and by 1.7% annualized. Economists predicted an increase of 0.4% quarterly and of 1.7% annualized. Forex traders can compare this to the RBA Trimmed Mean CPI for the second-quarter of 2016 which increased by 0.5% quarterly and by 1.7% annualized. The RBA Weighted Median CPI for the third-quarter of 2016 increased by 0.3% quarterly and by 1.3% annualized. Economists predicted an increase of 0.4% quarterly and of 1.4% annualized. Forex traders can compare this to the RBA Weighted Median CPI for the second-quarter of 2016 which increased by 0.5% quarterly and by 1.5% annualized.
• Chinese Westpac MNI Consumer Sentiment: The Chinese Westpac MNI Consumer Sentiment for October was reported at 117.1. Forex traders can compare this to the Chinese Westpac MNI Consumer Sentiment for August which was reported at 115.2.
• Japanese Small Business Confidence: Japanese Small Business Confidence for October was reported at 48.3. Forex traders can compare this to Japanese Small Business Confidence for September which was reported at 47.7.
• German Import Price Index: The German Import Price Index for September increased by 0.1% monthly and decreased by 1.8% annualized. Economists predicted a flat reading of 0.0% monthly and a decrease of 2.0% annualized. Forex traders can compare this to the German Import Price Index for August which decreased by 0.2% monthly and by 2.6% annualized.
• German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for November was reported at 9.7. Economists predicted a figure of 10.0. Forex traders can compare this to the German GfK Consumer Confidence Survey for October which was reported at 10.
• US Advanced Goods Trade Balance: The US Advanced Goods Trade Balance for September is predicted at -$60.5B. Forex traders can compare this to the US Advanced Goods Trade Balance for August which was reported at -$59.2B.
• US Wholesale Inventories: US Wholesale Inventories for September are predicted to increase by 0.1% monthly. Forex traders can compare this to US Wholesale Inventories for August which decreased by 0.2% monthly.
• US Markit Services PMI and Markit Composite PMI: The US Preliminary Markit Services PMI for October is predicted at 52.3 and the Markit Composite PMI at 52.3. Forex traders can compare this to the US Markit Services PMI for September which was reported at 52.3 and to the US Markit Composite PMI which was reported at 52.3.
• US New Home Sales: US New Home Sales for September are predicted to decrease by 3.1% monthly to 590K new homes. Forex traders can compare this to US New Home Sales for August which decreased by 7.6% monthly to 609K new homes.

Should price action for Gold remain inside the or breakout above the 1,272.00 to 1,277.00 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,275.00
• Take Profit Zone: 1,345.00 – 1,350.00
• Stop Loss Level: 1,255.00

Should price action for Gold breakdown below 1,272.00 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,267.00
• Take Profit Zone: 1,242.00 – 1,247.00
• Stop Loss Level: 1,277.00

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