This week's notable events are over.
XAU/USD short-term forecast
If the metal surges above 1,835.00, the 1,840.00 level and the 200-hour simple moving average might stop an upwards move, before the rate reaches the 1,850.00 mark.
On the other hand, a decline of the metal's price could look for support in the 1,815.00 level, before approaching the zone, which surrounds the 1,810.00 level. Further below, note the 1,800.00 mark.
XAU/USD daily charts review
On the daily candle chart, the price has encountered resistance in the form of the 50-day simple moving average at 1,880.00.Daily Candle Chart
Traders set up sell orders
On Wednesday, the sentiment on the Swiss Foreign Exchange was 62% bullish. Namely, 62% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 55% to buy the precious metal.
On Thursday, traders were 61% long and pending orders were 57% to sell.