http://prntscr.com/4j623e
analysis for today 9 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDNZD on the date 9 / 2 / 2014
OPEN 1.1134
HIGH 1.1175
LOW 1.1116
CLOSED 1.1147
The third resistance (R3) 1.1175 -( 1.1146 - 1.1116 = 0.0030 x 2 = 0.0060 )= 1.1235
The second Resistance (R2) 1.1146 + 1.1175 - 1.1116 = 1.1205
First resistance (R1) 1.1146 x 2 = 2.2292 - 1.1116 = 1.1176
pivot points 1.1175 + 1.1116 + 1.1147 = 3.3438 / 3 = 1.1146
Support for the first (S1) 1.1146 x 2 = 2.2292 - 1.1175 = 1.1117
Support second (S2) 1.1146 -( 1.1175 - 1.1116 = 0.0059 ) = 1.1087
Third Support (S3) 1.1116 -( 1.1175 - 1.1146 = 0.0029 x 2 = 0.0058 )= 1.1058