The AUD/USD pair initially tried to rally during the course of the week but turned back around and ended up forming a shooting star. The shooting star of
The AUD/USD pair initially tried to rally during the course of the week but turned back around and ended up forming a shooting star. The shooting star of course is very negative, and as a result it’s very likely that we could pull back. However, I see quite a bit of support just below as well so I feel that this is a market that you will have to trade from the shorter-term charts such as the daily price action. A supportive candle is reason enough to go long, just as a break above the top of the shooting star would be.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
