Next week, the Euro's value might adjust to the Wednesday's publication of the European Services and Manufacturing Purchasing Managers Indices in the span from 08:15 up to 09:00 GMT.
On Wednesday, at 13:30 GMT, the financial markets might react to the US Durable Goods Orders and Unemployment Claims publication.
Later on, at 14:45 GMT, the Markit Services and Manufacturing Purchasing Managers Indices for the US could cause an adjustment of the US Dollar's value.
The day and the week's notable events will end with the release of the US Federal Reserve FOMC Meeting Minutes at 19:00 GMT. The Meeting Minutes are the protocol of the last US Fed meeting. New details might be in the file.
XAU/USD short-term forecast
A potential extension of the ongoing decline might look for support in round price levels like the 1,760.00, 1,750.00 and 1,740.00, before reaching the 200-hour SMA near 1,735.00.
However, a recovery of the commodity price might face resistance in the 50-hour simple moving average near 1,775.00. Higher above, note the 1,784.20/1,786.60 resistance zone.
XAU/USD daily charts review
On the daily candle chart, the metal is testing the resistance of the 200-day simple moving average. Note that the commodity has not touched this indicator since June.Daily Candle Chart
Traders are neutral
On Wednesday, the sentiment on the Swiss Foreign Exchange was 53% bullish. Namely, 53% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 69% to buy the precious metal.
By mid-Thursday, the positions were neutral, as 50% was long and short. Pending orders were 82% to sell.