Considering the correlation with the pair of EUR/USD and the technical situation of GOLD’s histogram it’s possible to predict this precious metal of exchange still being overvalued and traded better than the market. The image of the “fair” price is at 982.40, the decrease to it is predicted in the nearest prospect. The support is created by 55-perioded moving average, top edge of the formed channel, and possibility of symmetric structure creation with the center starting from December, 18 2009. The fixation higher than appointed level at 1108.90 is suggested to be the alternative scenario as in this case the growth till 1136.60 can’t also be excluded.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst