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The Shooting Star is a popular and powerful bearish candlestick pattern. It signifies exhaustion in the buying pressure before a reversal into a negative trend.
Nonfarm Payrolls will always be the highlight of the week for traders. However, keep an eye out for the ISM surveys along with the RBA and RBNZ monetary policy decisions.
A risk positive mood has taken over on Wall Street in the past 24 to 36 hours. This has helped to drive major indices higher. This is also weighing on the USD with a corrective move that has developed in the past couple of weeks back on track.
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