Economic Calendar Analysis
On Thursday, the US Consumer Price Index, US Core Consumer Price Index and the US Unemployment Claims are set to be released exactly at 12:30 GMT. Most likely, all USD asset and pair moves from 12:30 to 12:35 could be attributed to these data sets.
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
The XAU/USD pair could continue to trend bullish during the following trading session. The potential target for buyers will be near the 1920.00 level.
However, the resistance level at the 1910.00 area could provide resistance for the exchange rate during 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 increase
On Tuesday, the sentiment on the Swiss Foreign Exchange was 53% bearish, as 53% of open position volume was short.
In addition, in the 1000-pip range around the metal's price the pending orders were 81% to buy the metal.
On Monday, the yellow metal surged by 163 pips or 0.87% against the US Dollar. The commodity breached the 55-, 100– and 200– hour SMAs during Monday's trading session.
On Thursday, the US Consumer Price Index, US Core Consumer Price Index and the US Unemployment Claims are set to be released exactly at 12:30 GMT. Most likely, all USD asset and pair moves from 12:30 to 12:35 could be attributed to these data sets.
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
The XAU/USD pair could continue to trend bullish during the following trading session. The potential target for buyers will be near the 1920.00 level.
However, the resistance level at the 1910.00 area could provide resistance for the exchange rate during 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 increase
On Tuesday, the sentiment on the Swiss Foreign Exchange was 53% bearish, as 53% of open position volume was short.
In addition, in the 1000-pip range around the metal's price the pending orders were 81% to buy the metal.