Watch out for the Wednesday's Federal Reserve's FOMC Meeting Minutes at 18:00 GMT.
On Thursday, the ADP Non-farm Employment Change might impact the markets through the value of the US Dollar.
On Friday, the United States are scheduled to release their monthly employment data at 12:30 GMT. Expect the data release to consist of the Average Hourly Earnings, Non-Farm Employment Change and the Unemployment Rate.
XAU/USD short-term forecast
If the metal's price continues to recover, it would have to pass the 100-hour simple moving average and the 1,815.00 mark, before approaching the combined resistance of the 200-hour SMA and the 1,820.00 level. Higher above, note the resistance line, which connects the commodity price's late June high levels.
On the other hand, a potential decline of the metal's price is set to look for support in the 1,800.00 mark, before approaching the low level zone near 1,785.00.
XAU/USD daily charts review
On the daily candle chart, the price has encountered resistance in the form of the 50 and 200-day simple moving averages.Afterwards, support appeared to be found in the lower trend line of a May and June channel up pattern. On Thursday, the support was lost, as the price declined and was aiming at the late 2021 low level zone at 1,753.00/1,760.00.
Daily Candle Chart
Traders are long
Since Friday, the sentiment on the Swiss Foreign Exchange was 71% bullish. Namely, 71% of open position volume was in long positions.
Meanwhile, on Monday, in the 1000-pip range around the metal's price, pending trade orders were 79% to buy the precious metal.