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analysis for today 6 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 6 / 10 / 2014
OPEN 1.5071
HIGH 1.5116
LOW 1.5061
CLOSED 1.5064
The third resistance (R3) 1.5116 -( 1.5080 - 1.5061 = 0.0019 x 2 = 0.0039 )= 1.5155
The second Resistance (R2) 1.5080 + 1.5116 - 1.5061 = 1.5135
First resistance (R1) 1.5080 x 2 = 3.0161 - 1.5061 = 1.5100
pivot points 1.5116 + 1.5061 + 1.5064 = 4.5241 / 3 = 1.5080
Support for the first (S1) 1.5080 x 2 = 3.0161 - 1.5116 = 1.5045
Support second (S2) 1.5080 -( 1.5116 - 1.5061 = 0.0055 ) = 1.5025
Third Support (S3) 1.5061 -( 1.5116 - 1.5080 = 0.0036 x 2 = 0.0071 )= 1.4990