By the middle of Friday's trading, the price had retreated below the 1,825.00 level. Meanwhile, it was spotted that the commodity was ignoring the 50-hour simple moving average near 1,823.00. Economic Calendar Analysis
The week will end with the US Retail Sales and Core Retail Sales on Friday at 13:30 GMT.
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XAU/USD short-term forecast
If the price of the metal declines, it might find support in the lower trend line of a recently spotted channel up pattern near 1,820.00. Below the 1,820.00 level, the price could find support in the 1,815.00 level and the 100-hour simple moving average near it.
In the meantime, a surge of the price would most likely find some resistance in the 1,825.00 mark, before making another attempt at passing the 1,830.00 level and the high level zone above it.
XAU/USD daily charts review
The daily candle chart can be used to more clearly explore previous high level zones at 1,830.00 and 1,880.00. Meanwhile, the same rule applies to 2021 low levels.Daily Candle Chart
Traders are almost neutral
On Thursday, the sentiment on the Swiss Foreign Exchange was 53% bullish, as 53% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 76% to buy the precious metal.
On Friday, open positions were 52% long, and the orders were 54% to buy.