On Thursday, a minor USD move could occur due to the weekly US Unemployment claims release at 13:30 GMT.
On Friday, the value of the US Dollar is most likely going to adjust to the publication of the US Consumer Price Index and Core Consumer Price Index changes at 13:30 GMT.
Click on the link below to find out more about data releases of this and other currency exchange rates.
XAU/USD short-term forecast
If the resistance of the 200-hour SMA fails, the rate could reach for the upper trend line of the channel down pattern, which captures the price's decline since the last week. Above the trend line, the 1,800.00 mark might act as resistance.
Meanwhile, a potential move downwards would have to pass the support of the 50 and 100-hour simple moving averages near 1,780.00. Below the SMAs, there is no technical support as low as the lower trend line of the channel down pattern near 1,755.00.
XAU/USD daily charts review
On the daily candle chart, the metal has passed the trend line, which connects the August, September and November low levels.Meanwhile, the 50, 100 and 200-day simple moving averages were at the trend line.
Daily Candle Chart
Long sentiment grows
Since Monday, the sentiment on the Swiss Foreign Exchange was 62% bullish, as 62% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 74-80% to buy the precious metal.
On Friday, 60% of volume was in in long positions. In the meantime, 51% of orders were set to sell.