Economic Calendar Analysis
On Wednesday, at 12:30 GMT, the US Durable Goods Orders and Core Durable Goods Orders change data will be published.
At 12:30 GMT, on Thursday, the US Advance GDP is expected to impact the value of the US Dollar. In addition, the US Unemployment Claims could also slightly impact the USD.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
XAU/USD short-term forecast
By the middle of Monday's European trading hours, the price for gold had reached the 1,800.00 level. If the metal continues to surge, it could once again reach the 1,821.60/1,814.20 zone.
On the other hand, the commodity price might decline and look for support in the trend line near 1,790.00. In addition, the 55, 100 and 200-hour simple moving averages could act as support levels.
XAU/USD daily charts review
On the daily candle chart, the yellow metal's price has broken and passed the resistance of the 100 and 200-day simple moving averages near 1,793.00. On Monday, it appeared that the simple moving averages had begun to provide the price with support, as the metal's price did not fluctuate below the SMAs.Daily Candle Chart
Traders are almost neutral
On Friday, the sentiment on the Swiss Foreign Exchange was 55% bullish, as 55% of open position volume was in long positions.
On Monday, the sentiment was 53% long. Traders had closed long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 53% to buy the precious metal.