$NZDUSD 15 Feb 2011

NZDUSD is currently trading in an interesting zone. We have a bullish harmonic formation and the confluence of key support levels, and daily rising trend line. If a bounce from here happens, I have two possible scenarios. 1st is a pull back and then continuation of  bearish symmetrical movement (Refer to the yellow lines). 2nd possibility is to complete the bigger Bullish harmonic formation which will see NZDUSD back testing daily downward sloping trend line.

A couple of potential trading opportunities here. Let's see how it goes.

Here is the.... CHART!