XAUUSD has given some initial upside correction type trend on 1H 2H and 4H basis. yet we cannot confirm a total change of trend since a lot a signals are still missing or has not been realized yet.
On chartist approach the Lagging span has still to cross all the price, the cloud and go on the upside above the cloud which is not the case, but it is well oriented. however, it will cross the cloud on the diagonal and this is rather a long process.
There is yet no Tenkan-Kijun twist but there are coming closer together.
There is no Kumo twist either as a forthcoming sign.
Therefore even if on a 1H 2H and 4H there is a growing trend on the upside still as being describe by myself as an upside correction there are level to watch i.e 1202-1205 and 1224.58.
On the macro economic front, if USD will continue to loose its value against EUR, i.e if the pair goes above 1.12 and if ECB will not intervene on the market, then we can consider that a reversal may realize. However bare in mind please that ECB will spread another 60 Bio € early April in the market and Eurozone can yet not sustain an expensive currency against USD keeping the initial target to 1 and bellow towards 0.92
On chartist approach the Lagging span has still to cross all the price, the cloud and go on the upside above the cloud which is not the case, but it is well oriented. however, it will cross the cloud on the diagonal and this is rather a long process.
There is yet no Tenkan-Kijun twist but there are coming closer together.
There is no Kumo twist either as a forthcoming sign.
Therefore even if on a 1H 2H and 4H there is a growing trend on the upside still as being describe by myself as an upside correction there are level to watch i.e 1202-1205 and 1224.58.
On the macro economic front, if USD will continue to loose its value against EUR, i.e if the pair goes above 1.12 and if ECB will not intervene on the market, then we can consider that a reversal may realize. However bare in mind please that ECB will spread another 60 Bio € early April in the market and Eurozone can yet not sustain an expensive currency against USD keeping the initial target to 1 and bellow towards 0.92
