Economic Calendar Analysis
On Friday, the rate could move due to the publication of the US Producers Price Index at 12:30 GMT.
XAU/USD short-term forecast
In the case that the price passes the 100-hour simple moving average, the bullion could test the resistance of the 200-hour SMA at 1,809.50. Above the 200-hour SMA, the summer high levels at 1,830.00/1,835.00 might once again serve as resistance.
However, a bounce off from resistance would possibly look for support in the 55-hour simple moving average at 1,795.00. Below the SMA, the support zone just below the 1,785.00 might provide support.
XAU/USD daily charts review
On the daily candle chart, the summer high level zone can be observed better.Meanwhile, note the round price levels, which have been providing support throughout summer. Namely, the 1,780.00, 1,760.00 and 1,720.00 levels have been acting as support levels.
Daily Candle Chart
Traders are neutral
On Friday, the sentiment on the Swiss Foreign Exchange was 52% bullish, as 52% of open position volume was in long positions.
On Thursday, 51% of volume was in long positions and 49% was in short.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 78% to buy the precious metal.