Economic Calendar Analysis
On Thursday, the weekly US Unemployment Claims at 12:30 GMT might cause a minor move in the USD.
On Friday, at 12:30 GMT, the US employment data sets will be out. Namely, the Average Hourly Earnings change, the Non-Farm Employment Change and the monthly Unemployment Rate are bound to impact the value of the US Dollar.
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
In the case of a broad surge, the metal would most likely encounter resistance in round price levels. In addition, note the resistance zone from 1,781.00/1,784.00.
However, a decline might find support in this week's low levels in the 1,746.20/1,749.80 zone.
XAU/USD daily charts review
On the daily candle chart, the yellow metal's price has pierced the resistance of the channel down pattern, which guided the rate's decline throughout September.In the near term future, the metal could find resistance in the 55, 100 and 200-day simple moving averages in the 1,780.00/1,805.00 range.
Daily Candle Chart
Long sentiment decreases
On Wednesday, the sentiment on the Swiss Foreign Exchange was 69% bullish, as 69% of open position volume was in long positions.
On Thursday, the sentiment was 67% long.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 59% to buy the precious metal.