​​​Technical Analysis Of The FTSE 100 And EUR/USD As They Slip While WTI Rallies To Above $104 Per Barrel On Heightened Tensions In The Middle East.

(MENAFN- DailyFX (IG)) EUR/USD dips but remains bullish

EUR/USD is expected to resume its advance, having slid back to its 200-day simple moving average (SMA) at $1.1671 which acted as support.

​A rise above last week's $1.1740 high would likely engage the $1.1800 region.

​Good support sits in the $1.1648-to-$1.1631 region.

​Short-term outlook: bullish while above the 8 April low at $1.1589

​Medium-term outlook: neutral with a bullish bias while above the 6 April $1.1506 low

​Source: TradingView ​WTI rallies once again

​Reignited tensions in the US-Israel-Iran conflict has pushed the price of crude to around $104 per barrel mark, close to its late March peak at $106.86 which remains in sight. This will likely be the case while WTI stays above its 9 April low at $95.25 on a daily chart closing basis.

​Were a bearish reversal to take the price of WTI to below its 8 April $91.05 low, a further slide towards the 23 March low at $84.37 may ensue.

​ Short-term outlook: bullish while above the $91.05

​Medium-term outlook: bullish while above the 8 April low at $91.05

​Source: TradingView Important to know

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