By the start of Thursday's US trading, the decline had passed the support of the 50-hour simple moving average near 1,820.00. Economic Calendar Analysis
The week will end with the US Retail Sales and Core Retail Sales on Friday at 13:30 GMT.
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XAU/USD short-term forecast
If the price for gold continues to decline, the price might once again look for support in the 1,815.00 level. Below the 1,815.00 mark, the 100 and 200-hour simple moving averages were located near 1,810.00.
On the other hand, a resumption of the surge of the price could find resistance in the 50-hour SMA near 1,820.00 and the 1,825.00 mark, before approaching the 1,828.45 level and the 1,830.00/1,831.70 zone.
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.Daily Candle Chart
Traders are almost neutral
On Thursday, the sentiment on the Swiss Foreign Exchange was 53% bullish, as 53% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 76% to buy the precious metal.