Economic Calendar Analysis
Notable events for this week have ended. Expect an update to the calendar section with the next week's event reviews soon.
Click on the link below to find out more about the data releases of this and other currency exchange rates.
XAU/USD short-term forecast
By and large, the commodity could continue to edge higher during the following trading session. Bullish traders might drive the price towards the 1915.00 level.
However, buyers are likely to encounter resistance at the 1905.00 area within the following trading session.
Hourly Chart
XAU/USD daily charts review
The yellow metal continues to edge higher in a channel up pattern. The recent decline on Friday, confirmed the strength of the lower trend line of the pattern, as the commodity price bounced off the trend line.In the future, a 23.60% Fibonacci retracement level could provide resistance at 1,928.61.
Daily Candle Chart
Buy orders continue falling
On Friday, the sentiment on the Swiss Foreign Exchange were 51% bearish, as 51% of open position volume was short.
In addition, in the 1000-pip range around the metal's price the pending orders were 66% to buy the metal.