This week, on Wednesday, the US ISM Manufacturing PMI and JOLTS Job Openings could cause an adjustment in the value of the US Dollar at 15:00 GMT.
Afterwards, at 19:00 GMT, the release of the US Federal Open Markets Committee Meeting Minutes are set to impact the value of the US Dollar. The Meeting Minutes are set to reveal more details on the Federal Reserve's previous meeting and rate decision.
On Thursday, the US ADP Non-farm Employment Change might impact the value of the US Dollar at 13:15 GMT.
On Friday, The United States employment data release at 13:30 GMT is highly likely going to impact the US Dollar. Later on, at 15:00 GMT the ISM Services PMI is set to cause minor impact on the financial markets.
XAU/USD short-term forecast
A move above 1,825.00 level could encounter resistance in the December high level at 1,833.20. Higher above, note that the 1,850.00 level might act as resistance.
However, a decline of the commodity price might look for support in the combination of the 1,815.00 level and the 50, 100 and 200-hour simple moving averages. Further below, note that the 1,805.00 and 1.800.00 levels have acted as support.
XAU/USD daily charts review
On the daily candle chart, the metal has pierced the 1,787.05/1,808.15 resistance zone. The zone held the price down since mid-November. Higher above, note the June high of 1,880.00. However, other round price levels acted as support and resistance throughout May and June.Daily Candle Chart
Traders are neutral
On Monday, traders were neutral on gold, as 50% of open positions were long and short.
Meanwhile, pending orders in the 1000-pip range were 64% to sell.