Economic Calendar Analysis
On Friday, at 12:30 GMT, the US employment data sets will be out. Namely, the Average Hourly Earnings change, the Non-Farm Employment Change and the monthly Unemployment Rate are bound to impact the value of the US Dollar.
Next week, most volatility could be caused by the US Consumer Price Index, Producer Price Index and Retail Sales data.
On Wednesday, the US Consumer Price Index and Core Consumer Price Index data will be published at 12:30 GMT.
Later on, on Wednesday, some new information could be found in the FOMC Meeting Minutes release at 18:00 GMT. Namely, hints at the future might be in the protocol of the Federal Reserve's policymaker meeting.
On Thursday, at 12:30 GMT the US Producer Price Index, Core Producer Price Index and the weekly US Unemployment Claims will be published.
On Friday, the US Retail Sales and Core Retail Sales at 12:30 GMT might impact the US Dollar's value.
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
In the case of a decline, the bullion's price might look for support in the 200-hour simple moving average at 1,751.00, the 1,750.00 mark and the support zone of this week's low levels below the 1,750.00 level.
On the other hand, a potential surge might find resistance in round price levels, as it has done before. However, note the resistance of the 1,781.00/1,784.00 zone.
XAU/USD daily charts review
On the daily candle chart, the yellow metal's price has pierced the resistance of the channel down pattern, which guided the rate's decline throughout September.In the near term future, the metal could find resistance in the 55, 100 and 200-day simple moving averages in the 1,780.00/1,805.00 range.
Daily Candle Chart
Long sentiment decreases
On Wednesday, the sentiment on the Swiss Foreign Exchange was 69% bullish, as 69% of open position volume was in long positions.
On Thursday, the sentiment was 67% long. By the middle of Friday's trading, the sentiment was 66% long.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 55% to buy the precious metal.