Economic Calendar Analysis
On Monday, a slight move on all USD assets could be caused by the US Durable Goods Orders and Core Durable Goods Orders release at 12:30 GMT.
On Thursday, at the same time as the US GDP, the US weekly Unemployment Claims could also impact the USD.
On Friday, at 14:00 GMT a notable move could be created by the US ISM Manufacturing PMI results.
XAU/USD short-term forecast
On Friday morning, the commodity price was heading higher. The upwards move was expected to find resistance first in the combination of the 55 and 100-hour simple moving averages at 1,765.00 and afterwards the 200-hour SMA near 1,770.00.
Meanwhile, a decline of the price is highly likely going to look for support in round price levels, as there are no close by technical support levels.
XAU/USD daily charts review
On the daily candle chart, note that the bullion has been in a decline since the start of September, when it bounced off the summer high zone at 1,830.00.Daily Candle Chart
Long sentiment declines
On Friday, the sentiment on the Swiss Foreign Exchange was 67% bullish, as 67% of open position volume was in long positions.
On Thursday, 65% of open position volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 68% to sell the precious metal.