On Thursday, the weekly US Unemployment Claims could cause minor USD moves.
The week will end with the US Retail Sales data at 12:30 GMT.
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
In the near term future, the metal could continue to gradually surge from one round price level to another. Stronger resistance would be expected from the 1,850.00 mark.
In the meantime, take into account that the metal has left below it the 55, 100 and 200-hour simple moving averages. In theory, the price could fluctuated sideways and that way consolidate until the SMAs catch up.
Hourly Chart
XAU/USD daily charts review
On the daily candle chart, the rate is testing the resistance of the 55 and 200-day simple moving averages, which are located at the 1,830.00 mark.Meanwhile, note that a potential decline of the price could find support in the 100-day simple moving average near 1,790.00.
Daily Candle Chart
Traders close long positions
On Wednesday, the sentiment on the Swiss Foreign Exchange was 67% bullish, as 67% of open position volume was long.
On Thursday, the sentiment was 55% long.
Meanwhile, in the 1000-pip range around the metal's price the pending orders were 71% to buy gold.