The top data set of the week will be released on Wednesday at 13:30 GMT. At that time, the US Consumer Price Index and Consumer Price Index are set to be published.
On Thursday, at 13:30 GMT, the US Producers Price Index and Core Producers Price Index data sets are scheduled to be published. At the same time, the US weekly Unemployment Claims could cause a minor impact on the USD.
The week will end with the US Retail Sales and Core Retail Sales on Friday 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 price for gold continues to decline, it could look for support in the 1,790.00 mark. Further below, the 1,785.00 level and the zone above it, might stop a depreciation of the price.
Meanwhile, a surge of the pair would most likely find resistance at the 1,800.00 level and the 100 and 200-hour simple moving averages near 1,802.65 and 1,806.85.
XAU/USD daily charts review
The daily candle chart can be used to more clearly explore previous high level zones at 1,830.00 and 1,880.00. Meanwhile, the same rule applies to 2021 low levels.In addition, note that the price was being kept up by the 50, 100 and 200-day simple moving averages since the middle of December. The sharp drop caused by the Fed moved the price below the moving averages.
Daily Candle Chart
Long sentiment grows
Since Thursday, the sentiment on the Swiss Foreign Exchange was 56% bullish, as 56% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 54% to buy the precious metal.
On Monday, the sentiment was 57% long and pending orders were neutral.