#1,927.80 represents my first Short-term Target

Technical analysis: After carefully monitoring E.U. session, looking for Intra-day pointers, DX filled the Gap nicely and extended it's #2-session consecutive decline, now Trading near one of key Resistance zones priced at #103.400 - #103.600, however Gold keeps Higher levels intact as on the other hand, Bond Yields are Trading near local peak which gives me a hint that Gold correlation currently relies on #2 different asset classes, firstly DX, then secondly Bond Yields on relief rally (with DX of course remaining main correlating instrument). As long as DX continues to Trade on gains, Gold will be forced to test the Support fractal and vice-versa. Regarding today’s session, my bias leans more to the Selling side of course (while Medium-term remains Bearish aswell) unless DX bounces (makes a rebound) near Resistance zone and attracts Sellers and in meantime, I spotted reversal signs on Gold's Hourly 4 chart as it all depends on Fed minutes later on throughout the session. If current threshold breaks on DX, #105.100 becomes new Target to monitor. Gold should remain heavily pressured on Intra-day basis as it is totally expected since Technically, Gold is on undisputed Selling trend and under total Selling domination where every rise / correction attempt should be Sold. Daily chart's #MA50 got invalidated to the downside and last time (February #13) #MA50 gave away, Gold dipped #50 points on the aftermath. All circumstances point towards Lower levels and #1,927.80 Medium-term Target of mine.


My position: I do expect hawkish stance on Fed minutes and coupled with very Bearish Technicals on Gold, #1,927.80 and #1,900.80 benchmarks are my Medium-term Targets. Buying bias is not sustainable.