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.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
