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analysis for today 10 / 3 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 10 / 2 / 2014
OPEN 0.8559
HIGH 0.8609
LOW 0.8529
CLOSED 0.8546
The third resistance (R3) 0.8609 -( 0.8561 - 0.8529 = 0.0032 x 2 = 0.0065 )= 0.8674
The second Resistance (R2) 0.8561 + 0.8609 - 0.8529 = 0.8641
First resistance (R1) 0.8561 x 2 = 1.7123 - 0.8529 = 0.8594
pivot points 0.8609 + 0.8529 + 0.8546 = 2.5684 / 3 = 0.8561
Support for the first (S1) 0.8561 x 2 = 1.7123 - 0.8609 = 0.8514
Support second (S2) 0.8561 -( 0.8609 - 0.8529 = 0.0080 ) = 0.8481
Third Support (S3) 0.8529 -( 0.8609 - 0.8561 = 0.0048 x 2 = 0.0095 )= 0.8434