The week's notable events are over. Next week's review will be published on Friday.
XAU/USD short-term forecast
In the case that the price for gold surges higher, it might encounter resistance in the 1,960.00 mark, which had acted as support on March 11. Above the round price level, the par might approach the February high level at 1,975.00 and the zone that surrounds this level.
Meanwhile, a decline would have to pass the 1,948.00/1,951.50 zone, before approaching the combination of the 50, 100 and 200-hour simple moving averages near the 1,930.00 mark.
XAU/USD daily charts review
On the daily candle chart, the metal's price is being approached by the 50-day simple moving average, which is located near 1,885.00.Daily Candle Chart
Traders are neutral
On Thursday, the sentiment on the Swiss Foreign Exchange was 52% bullish, as 52% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price, pending trade orders were 57% to sell the precious metal.
On Wednesday, the open positions were 50% long and 50% short. Pending orders were 64% to buy the metal.