http://prntscr.com/52ido5
analysis for today 11 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle NZDCHF on the date 10 / 31 / 2014
OPEN 0.7494
HIGH 0.7553
LOW 0.7479
CLOSED 0.7502
The third resistance (R3) 0.7553 -( 0.7511 - 0.7479 = 0.0032 x 2 = 0.0065 )= 0.7618
The second Resistance (R2) 0.7511 + 0.7553 - 0.7479 = 0.7585
First resistance (R1) 0.7511 x 2 = 1.5023 - 0.7479 = 0.7544
pivot points 0.7553 + 0.7479 + 0.7502 = 2.2534 / 3 = 0.7511
Support for the first (S1) 0.7511 x 2 = 1.5023 - 0.7553 = 0.7470
Support second (S2) 0.7511 -( 0.7553 - 0.7479 = 0.0074 ) = 0.7437
Third Support (S3) 0.7479 -( 0.7553 - 0.7511 = 0.0042 x 2 = 0.0083 )= 0.7396