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 commodity passes the resistance of the 200-hour SMA, it could aim at the upper trend line of the channel down pattern, which captures the last week's decline. On the other hand, a decline below the 50-hour SMA might look for support in the lower tren dline of the pattern.
Meanwhile, take into account that round price levels are capable of impacting the direction of the yellow metal.
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 left above the trend line.
Daily Candle Chart
Long sentiment grows
On 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% to buy the precious metal.
On Friday, 60% of volume was in in long positions. In the meantime, only 51% of orders were set to sell.