JOEL - Congratulations on your decision to come back into activity in the Church. I hope everything goes well with your new baby. On to your question.

Is it wrong to study astrology? Probably not.
Is it wrong to believe in astrology? It is deffinately wrong to believe in it.
In the Old Testament we are told stories of how the astrologers, magicians and soothsayers failed to interpret king Nebuchadnezzar's dreams. He was only successful in finding out what he wanted to know when he asked the prophet Daniel for interpretations:

"Therefore made I a decree to bring in all the wise [men] of Babylon before me, that they might make known unto me the interpretation of the dream.
Then came in the magicians, the astrologers, the Chaldeans, and the soothsayers: and I told the dream before them; but they did not make known unto me the interpretation thereof.
But at the last Daniel came in before me, whose name [was] Belteshazzar, according to the name of my god, and in whom [is] the spirit of the holy gods: and before him I told the dream," (Daniel 4:6-8)

Then Daniel goes on to correctly interpret his dream. Astrology didn't help the king then. It can not help anyone else now, no matter how accurate it seems to be at times. Astrology is a pseudo science that pretends to divulge the influence of the stars upon human affairs; it is a false science that claims to foretell earthly events. It is at best only a guess at what could happen to someone. It is at worst a tool Satan uses to influence our lives and cause people to turn away from the true revelation we can receive from God.
There is no reasonable way of establishing any direct cause and effect relationship between the character and personality of human beings and astronomical phenomena. No Prophet, Apostle, or any other Church leader has ever believed in it. They have always advised against it or anything like it. President Joseph Fielding Smith said:

"The Lord has pointed out very clearly the course that we should take in obtaining inspiration for our guidance. When a person is baptized and receives the Holy Ghost, he is promised that he will receive the necessary guidance for his spiritual and temporal good, provided he is true to his covenants. The Lord will not dwell in unclean tabernacles. Therefore, in order that we may keep ourselves in harmony with the Spirit of the Lord, we must be mentally, spiritually, and bodily clean from every contaminating influence." (Answers to Gospel Questions)

Astrology gives us only a false image of who we really are. It is better that we pray daily to God and receive direction from Him through the Holy Ghost as to who we are and what we should do with our lives each day.
One day I checked out my own horroscope from about twelve different sources. I got twelve different messages that didn't at all relate to each other. One even told me I was a gregarious, outgoing person and that I think everyone else should be the same. Wrong!
Sometimes it is fun to check out your horroscope to see what it says. And perhaps there is no harm in that, as long as you take it for what it is; a guess about what could happen, and you don't ascribe any supernatural importance to it or let it control your life.