http://prntscr.com/52utnn
analysis for today 11 / 4 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle NZD/USD on the date 11 / 3 / 2014
OPEN 0.7771
HIGH 0.7792
LOW 0.7699
CLOSED 0.7718
The third resistance (R3) 0.7792 -( 0.7736 - 0.7699 = 0.0037 x 2 = 0.0075 )= 0.7867
The second Resistance (R2) 0.7736 + 0.7792 - 0.7699 = 0.7829
First resistance (R1) 0.7736 x 2 = 1.5473 - 0.7699 = 0.7774
pivot points 0.7792 + 0.7699 + 0.7718 = 2.3209 / 3 = 0.7736
Support for the first (S1) 0.7736 x 2 = 1.5473 - 0.7792 = 0.7681
Support second (S2) 0.7736 -( 0.7792 - 0.7699 = 0.0093 ) = 0.7643
Third Support (S3) 0.7699 -( 0.7792 - 0.7736 = 0.0056 x 2 = 0.0111 )= 0.7588