By the middle of Wednesday's trading hours, a recovery from the 1,850.00 level was taking place. Economic Calendar Analysis
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 near term future, the price for the commodity might encounter resistance in the previously passed 1,870.00 mark and the 1,875.00 level. Above these levels, other round price levels might serve as resistance until the price reached the 1,900.00 level.
On the other hand, a decline of the metal would look for support in the 1,850.00 level, before reaching the support of the 1,840.00/1,845.00 zone.
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.
On Wednesday, the sentiment became 57% short.
Meanwhile, in the 1000-pip range around the metal's price pending trade orders were 52% to sell the precious metal.