Economic Calendar Analysis
On Monday, the US ISM Manufacturing PMI will be published at 14:00 GMT.
On Wednesday, at 12:15 GMT the US ADP Non-Farm Employment Change could cause a minor USD move.
Later on, at 14:00 GMT the US ISM Non-Manufacturing PMI will be out.
Wednesday will end with the US Federal Open Markets Committee Statement and Federal Funds Rate publication at 18:00 GMT.
On Thursday, at 12:30 GMT, the US Unemployment Claims on Thursday might cause a minor USD move.
On Friday, US statisticians will publish their monthly employment data sets at 12:30 GMT.
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
If the price passes the resistance of the 1,790.00 mark, it would immediately encounter the resistance of the 55, 100 and 200-hour simple moving averages at 1,791.31/1,793.50.
However, a decline of the price might look for support in the previous low level at 1,772.35, before aiming at the mid-October low levels at 1,767.40 and 1,760.85.
XAU/USD daily charts review
On the daily candle chart, the yellow metal's price has moved out of the channel up pattern, which guided the price since the middle of September.Daily Candle Chart
Traders are long
Since previous Monday, the sentiment on the Swiss Foreign Exchange was 53% bullish, as 53% of open position volume was in long positions.
On November 1, the sentiment was 54% long.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 61% to buy the precious metal.