On Friday, watch the US employment data release at 12:30 GMT. The release will consist of the US Average Hourly Earnings monthly change, Non-Farm Employment Change number and the official Unemployment Rate. This event could cause a notable US Dollar move.
In regards to next week, it appears that there are no pre-scheduled notable fundamental events that could impact the financial markets.
XAU/USD short-term forecast
If the price manages to break above 1,990.30/1,997.15, the 2,000.00 and 2,010.00 levels are expected to once again act as resistance. Higher above, take into account the 2,040.00 and 2,048.20 levels that have shown to be capable of impacting the metal. However, note that another round price level could turn into resistance.
In the case of a resumption of the commodity price, the 50 and 200-hour simple moving averages could slow down a decline. Afterwards, note that the 1,980.00 and 1,970.00 levels are capable of acting a support.
XAU/USD daily charts review
On the daily candle chart, the price has the 1,950.00/1,965.00 range as support. The metal has to break the 2,000.00 mark to reach the high level zone at 2,065.00/2,080.00.Daily Candle Chart
Gold traders are short
On Thursday, the Swiss Foreign Exchange, traders were 62% short on gold, as that proportion of open Gold positions were short.
In the meantime, pending orders in the 1000 point range around the current price are 50% to buy and sell.