The week will end with the Friday's release of the US employment data at 12:30 GMT. The event consists of the release of the US Average Hourly Earnings, US Non-farm Employment Change and US Unemployment Rate.
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
Given that the commodity has breached the 200– hour SMA support level at 1810.8, bearish traders are likely to continue to drive the yellow metal's price lower within this session.
However, short traders could encounter support near the 1795.00 level during the following trading session.
Hourly Chart
XAU/USD daily charts review
On the daily candle chart, the price has passed the resistance of the 200-day simple moving average near 1,820.00. However, on Friday, the rate encountered the resistance of the 55-dya SMA near 1,833.00.In addition, take into account that a 38.20% Fibonacci retracement level at 1,837.43 could provide resistance.
Daily Candle Chart
Traders are bullish
On Thursday, the sentiment on the Swiss Foreign Exchange was 55% long.
On Friday, the market sentiment remains changed, as 58% of the volume was long.
Meanwhile, in the 1000-pip range around the metal's price, the pending orders were 77% to buy gold.