However, afterwards, the price retraced back down, before appearing to start another attempt to pass the resistance of the 1,870.00 level. Economic Calendar Analysis
On Tuesday, at 13:30 GMT, the US Retail Sales and US Core Retail Sales are bound to impact the value of the US Dollar.
On Thursday, note that a minor USD move could be caused by the weekly US Unemployment Claims.
Click on the link below to find out more about data releases of this and other currency exchange rates.
XAU/USD short-term forecast
In the case that the price passes above the 1,870.00 level, the yellow metal could eventually approach the 1,900.00 mark. Although, note that round price levels might provide resistance.
On the other hand, a decline of the price might find support in the 100-hour SMA near 1,850.00, before reaching the support zone at 1,841.70/1,845.60.
XAU/USD daily charts review
On the daily candle chart, traders can observe this and last year's high level zones near 1,900.00, 1,950.00 and 2,000.00.Daily Candle Chart
Traders are short
Since Friday, the sentiment on the Swiss Foreign Exchange was 56% bearish, as 56% of open position volume was in short positions.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 71% to buy the precious metal.