On Wednesday, at 13:30 GMT, the financial markets might react to the US Durable Goods Orders and Unemployment Claims publication.
Later on, at 14:45 GMT, the Markit Services and Manufacturing Purchasing Managers Indices for the US could cause an adjustment of the US Dollar's value.
The day and the week's notable events will end with the release of the US Federal Reserve FOMC Meeting Minutes at 19:00 GMT. The Meeting Minutes are the protocol of the last US Fed meeting. New details might be in the file.
XAU/USD short-term forecast
A move above the 50-hour simple moving average could encounter resistance in the 1,750.00 mark. Higher above, note the combination of the 100 and 200-hour simple moving averages near 1,755.00. Above all these levels, take into account the 1,766.20/1,768.30 zone.
On the other hand, a decline of the commodity price might find support in the 1,740.00 and 1,735.00 level, before reaching the Monday's low level at 1,732.40.
XAU/USD daily charts review
On the daily candle chart, the metal has bounced off the resistance of the 200-day simple moving average and the 1,787.05/1,808.15 zone. The commodity price might look for support in the 100-day simple moving average near 1,710.00 and the 1,700.00 mark.Daily Candle Chart
Traders are neutral
On Monday, the sentiment on the Swiss Foreign Exchange was 51% bullish. Namely, 51% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 75% to buy the precious metal.
On Tuesday, open positions were 51% short and pending orders were 65% to sell.