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

• German GfK Consumer Confidence Survey: The German GfK Consumer Confidence Survey for November was reported at 10.6. Economists predicted a figure of 10.5. Forex traders can compare this to the German GfK Consumer Confidence Survey for October which was reported at 10.6.
• US GDP: The Advanced US GDP for the third-quarter is predicted to increase by 3.3% annualized. Forex traders can compare this to the second-quarter GDP which increased by 4.2% annualized. Personal Consumption for the third-quarter is predicted to increase by 3.2% annualized. Forex traders can compare this to second-quarter Personal Consumption which increased by 3.8% annualized. The GDP Price Index for the third-quarter is predicted to increase by 2.1% annualized. Forex traders can compare this to the second-quarter GDP Price Index which increased by 3.0% annualized. The Core PCE for the third-quarter is predicted to increase by 1.6% annualized. Forex traders can compare this to the second-quarter Core PCE which increased by 2.1% annualized.
• US Michigan Consumer Sentiment: Final US Michigan Consumer Sentiment for October is predicted at 99.0. Forex traders can compare this to previous US Michigan Consumer Confidence for October which was reported at 99.0. Current Conditions for October are expected at 114.4 and Expectations are predicted at 89.1. Forex traders can compare this to previous Current Conditions for October which were reported at 114.4 and to Expectations which were reported at 89.1.

Should price action for Gold remain inside the or breakout above the 1,227.90 to 1,244.70 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,237.00
• Take Profit Zone: 1,265.60 – 1,275.20
• Stop Loss Level: 1,215.65

Should price action for Gold breakdown below 1,227.90 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,219.90
• Take Profit Zone: 1,173.80 – 1,183.65
• Stop Loss Level: 1,237.00

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