On Wednesday, note the Final US Quarterly GDP data. The data release might cause minor reactions on the chart.
Later on the same day, at 13:00 GMT, the heads of the ECB, Bank of England and the Fed are set to speak at a panel titled "Policy Panel."
XAU/USD short-term forecast
A potential decline of the commodity price could look for support in the last week's low level zone at 1,816.90/1,823.50. Further below note the support zone below 1,810.00.
However, a breaking of the resistance line is expected to encounter resistance in round price levels like the 1,845.00 and 1,850.00.
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.Daily Candle Chart
Traders are long
On Monday, the sentiment on the Swiss Foreign Exchange was 64% bullish. Namely, 64% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 79% to buy the precious metal.