During the week, almost all attention will be paid to the US Federal Reserve Federal Open Market Committee Meeting Minutes on Wednesday at 19:00 GMT.
The meeting minutes are a protocol of the central bank's committee, which decides US and, subsequently, global monetary policy. The document is set to reveal, what the committee talked about and detailed information about their future plans.
On Thursday, a minor USD move might be created by the publication of the weekly US Unemployment Claims data 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 surges above the 1,935.00 level, the commodity price could encounter resistance at 1,940.00 and 1,950.00 levels. In the case that the 1,950.00 mark fails to keep the metal down, new high levels might be reached.
On the other hand, a decline of the price would look for support in the 1,916.70/1,921.65 zone, before declining to the 1,900.00 level and the support zone below it.
XAU/USD daily charts review
On the daily candle chart, the metal's price was reached by the 50-day simple moving average near the 1,896.00 level. Most recently, the moving average has moved up to the 1,910.00 level. Below the 50-day SMA, take into account the 100-day SMA near 1,860.00 and the 200-day SMA near 1,830.00.Daily Candle Chart
Traders are almost neutral
Since Monday, the sentiment on the Swiss Foreign Exchange was 51% bullish, as 51% of open position volume was in long positions.
Meanwhile, on Tuesday, in the 1000-pip range around the metal's price, pending trade orders were 64% to buy the precious metal.