Economic Calendar Analysis
On Thursday, the US Unemployment Claims could cause a move from 5.9 to 28.8 pips.
XAU/USD short-term forecast
The exchange rate breached the lower boundary of an ascending channel pattern during the Asian session on Thursday. Most likely, bearish traders could continue to drive the price lower today.
On the other hand, the XAU/USD exchange rate might reverse from a support level formed by the 100– hour SMA at 1779.2 within this session.
XAU/USD daily charts review
On the Daily time-frame chart, the yellow metal showed strong bullish momentum. Most likely, the XAU/USD pair could target the 1900.00 level during the coming days.However, the metal could find resistance near the 55-, 100 the 200-day simple moving averages at 1.815.65.
Daily Candle Chart
Traders are bullish
On Thursday, the sentiment on the Swiss Foreign Exchange was 63% bullish, as 68% of open position volume was long.
On Wednesday, in the 1000-pip range around the metal's price, the pending orders were 67% to sell the precious metal.