Economic Calendar Analysis
On Wednesday, US Durable Goods Orders release at 12:30 GMT could cause an adjustment in the value of the US Dollar. All the pairs that involve the USD are bound to move.
On Thursday, the US Preliminary GDP could cause a notable reaction in the markets.
XAU/USD short-term forecast
In the case of a recovery, the price for gold would most likely make another attempt at passing the 1,810.00 level before aiming at the previous July and August high levels near 1,830.00.
Meanwhile, a decline of the price below the mentioned support zone would look for support in the 200-hour simple moving average near 1,785.00 and round price levels.
XAU/USD daily charts review
On the Daily time-frame chart, the yellow metal has encountered the resistance of the 100 and 200-day simple moving averages near the 1,810.00 level.Daily Candle Chart
Traders are almost neutral
On Tuesday, the sentiment on the Swiss Foreign Exchange was 54% bullish, as 54% of open position volume was long.
On Wednesday, 53% of volume was in long positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 64% to buy the precious metal.