There are no notable events scheduled for this week.
XAU/USD short-term forecast
In the case of a surge above 2,070.00, the 2,075.00 and 2,090.00 levels could slow down the commodity price, before the 2,100.00 would be reached.
On the other hand, a decline of the commodity price below the 50-hour simple moving average would look for support in the 2,055.00 and 2,050.00 levels. In addition, note that the 100-hour simple moving average was strengthening the 2,050.00 mark during Wednesday's trading.
XAU/USD daily charts review
On the daily candle chart, support was found in the 50-day simple moving average near 1,980.00. The recent move appears to be concise with the support holding on, but actually the move was not caused by the SMA. The reason was the Federal Reserve event.In general, additional resistance could be found in the 2021 and 2022 high level range at 2,065.30/2,082.80.
On the other hand below the 50-day SMA, the 100 and 200-day SMAs are strengthening the 1,950.00 level.
Daily Candle Chart
Gold traders are short
On Wednesday, 61% were short, as that proportion of open position volume was in short positions.
In the meantime, pending orders in the 1000-pip range around the current price were 56% to buy the metal.