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

• Australian ANZ Roy Morgan Weekly Consumer Confidence Index: The Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of May 19th was reported at 117.2. Forex traders can compare this to the Australian ANZ Roy Morgan Weekly Consumer Confidence Index for the week of May 12th which was reported at 114.8.
• Japanese Housing Loans: Japanese Housing Loans for the first-quarter increased by 2.4% annualized. Forex traders can compare this to Japanese Housing Loans for the fourth-quarter which increased by 2.4% annualized.
• New Zealand Credit Card Spending: New Zealand Credit Card Spending for April increased by 0.6% monthly and by 4.5% annualized. Forex traders can compare this to New Zealand Credit Card Spending for March which decreased by 0.1% monthly and which increased by 4.5% annualized.
• Swiss Money Supply M3: Swiss Money Supply M3 for April is predicted to increase by 3.8% annualized. Forex traders can compare this to Swiss Money Supply M3 for March which increased by 3.5% annualized.
• UK CBI Trends Total Orders and CBI Trends Selling Prices: UK CBI Trends Total Orders for May are predicted at -5 and CBI Trends Selling Prices are predicted at 0. Forex traders can compare this to CBI Trends Total Orders for April which were reported at -5 and to CBI Trends Selling Prices which were reported at 1.
• Advanced Eurozone Consumer Confidence: Advanced Eurozone Consumer Confidence for May is predicted at -7.7. Forex traders can compare this to the previous Eurozone Consumer Confidence for May which was reported at -7.9.
• US Existing Home Sales: US Existing Home Sales for April are predicted to increase by 2.7% monthly to 5.35M. Forex traders can compare this to US Existing Home Sales for March which decreased by 4.9% monthly to 5.21M.

Should price action for Gold remain inside the or breakout above the 1,273.40 to 1,278.70 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1,275.30
• Take Profit Zone: 1,320.15 – 1,324.20
• Stop Loss Level: 1,266.15

Should price action for Gold breakdown below 1,273.40 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1,268.00
• Take Profit Zone: 1,250.55 – 1,255.40
• Stop Loss Level: 1,275.00

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