Lucas SGT Markets

This pair printed a reasonably large near-outside bullish candlestick. This signifies indecision and possibly a deeper bullish retracement. There is a clear long-term bearish trend and the price has carved out new resistance above, while closely following a dominant bearish trend line. The resistance level at 12012 has been rejected, holding almost to the pip. However, it is increasingly noticeable that there are not any visible weekly closes below about 11750, only lower wicks of candlesticks.