We have a classical school case on the . If the pattern is confirmed, the neck line is at 1212, which in a sense may push up XAUUSD towards 1234 and even higher.
On a chartist approached and taking into account, there are some genuine sign of an upside, the crises in Greece have killed the previous pattern which was a .
On a macro economic basis, there is a worry about Greece and USD is loosing ground again. Therefore, investor are hedging the situation with Gold .
At the present moment, ECB's has no effect on the market.. It is interesting to note this issue and to keep it in mind.