http://prntscr.com/3p5u9g
analysis for today 6 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUD/USD on the date 6 / 2 / 2014
OPEN 0.9310
HIGH 0.9313
LOW 0.9234
CLOSED 0.9245
The third resistance (R3) 0.9313 -( 0.9264 - 0.9234 = 0.0030 x 2 = 0.0060 )= 0.9373
The second Resistance (R2) 0.9264 + 0.9313 - 0.9234 = 0.9343
First resistance (R1) 0.9264 x 2 = 1.8528 - 0.9234 = 0.9294
pivot points 0.9313 + 0.9234 + 0.9245 = 2.7792 / 3 = 0.9264
Support for the first (S1) 0.9264 x 2 = 1.8528 - 0.9313 = 0.9215
Support second (S2) 0.9264 -( 0.9313 - 0.9234 = 0.0079 ) = 0.9185
Third Support (S3) 0.9234 -( 0.9313 - 0.9264 = 0.0049 x 2 = 0.0098 )= 0.9136