Here are the key factors to keep in mind today for Gold trades:
- Japanese National CPI: The Japanese National CPI for September increased by 0.7% annualized. Economists predicted an increase of 0.7% annualized. Forex traders can compare this to the Japanese National CPI for August which increased by 0.7% annualized. The Japanese National Core CPI for September increased by 0.2% annualized. Economists predicted an increase of 0.2% annualized. Forex traders can compare this to the Japanese National Core CPI for August which increased by 0.2% annualized. The Japanese National CPI Excluding Fresh Food for September increased by 0.7% annualized. Economists predicted an increase of 0.7% annualized. Forex traders can compare this to the Japanese National CPI Excluding Fresh Food for August which increased by 0.7% annualized.
- Australian PPI: The Australian PPI for the third-quarter of 2017 increased by 0.2% quarterly and by 1.6% annualized. Forex traders can compare this to the Australian PPI for the second-quarter of 2017 which increased by 0.5% quarterly and by 1.7% annualized.
- Chinese Industrial Profits: Chinese Industrial Profits for September increased by 27.7% annualized. Forex traders can compare this to Chinese Industrial Profits for August which increased by 24.0% annualized.
- German Import Price Index: The German Import Price Index for September is predicted to increase by 0.5% monthly and by 2.6% annualized. Forex traders can compare this to the German Import Price Index for August was reported flat at 0.0% monthly and which increased by 2.1% annualized.
- US GDP: The Advanced US GDP for the third-quarter is predicted to increase by 2.6% annualized. Forex traders can compare this to the previous third-quarter GDP which increased by 3.1% annualized. Personal Consumption is predicted to increase by 2.1% annualized. Forex traders can compare this to previous third-quarter Personal Consumption which increased by 3.3% annualized. The GDP Price Index is predicted to increase by 1.7% annualized. Forex traders can compare this to previous third-quarter GDP Price Index which increased by 1.0% annualized. The Core PCE is predicted to increase by 1.3% annualized. Forex traders can compare this to previous third-quarter Core PCE which increased by 0.9% annualized.
- US Michigan Consumer Confidence: Final US Michigan Consumer Confidence for October is predicted at 100.7. Forex traders can compare this to the previous US Michigan Consumer Confidence for October which was reported at 101.1.
Should price action for Gold remain inside the or breakout above the 1,264.00 to 1,270.00 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 1,267.50
- Take Profit Zone: 1,300.00 – 1,305.00
- Stop Loss Level: 1,260.00
Should price action for Gold breakdown below 1,264.00 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 1,259.00
- Take Profit Zone: 1,223.00 – 1,234.00
- Stop Loss Level: 1,264.00
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
