Economic Calendar Analysis
On Thursday, at 12:30 GMT the weekly US Unemployment Claims might cause a minor USD move.
At 13:45 GMT on Friday, the week's notable events will end with the publication of the US Manufacturing and Services PMIs.
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
A continuation of the surge of the price for gold might eventually reach and once again test the resistance of the 1,800.00 mark. The 1,800.00 mark acted as a resistance level on October 14.
However, a decline might look for support in the 1,760.25/1,763.40 zone, which acted as support on Monday. Below this zone, the October low levels below 1,750.00 could act as support.
XAU/USD daily charts review
On the daily candle chart, the yellow metal's price has bounced off the resistance of the 100 and 200-day simple moving averages, which strengthened the resistance of the 1,800.00 mark.Daily Candle Chart
Traders are long
On Monday, the sentiment on the Swiss Foreign Exchange was 56% bullish, as 56% of open position volume was in long positions.
On Tuesday, the sentiment was 55% long.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 84% to buy the precious metal.