Since EUR is gaining some value against USD, XAUUSD is also gaining so value and that is why the precious metal is on the upside.
On the very big picture, there isn't any change of trend, the precious metal should keep its swing in the channel.
But there is an upside opportunity.
1224 and 1248 may be the upside target before EUR loose some value against USD
Pasha a small question, to reach the price you are mentioning above, the trendline you've drawn has to be passed by. If that happens we could speak about a change of trend right? At the current state I still see nog sign of a change in the trend.