http://prntscr.com/41jyvi
analysis for today 7 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUD/USD on the date 7 / 10 / 2014
OPEN 0.9412
HIGH 0.9454
LOW 0.9362
CLOSED 0.9393
The third resistance (R3) 0.9454 -( 0.9403 - 0.9362 = 0.0041 x 2 = 0.0082 )= 0.9536
The second Resistance (R2) 0.9403 + 0.9454 - 0.9362 = 0.9495
First resistance (R1) 0.9403 x 2 = 1.8806 - 0.9362 = 0.9444
pivot points 0.9454 + 0.9362 + 0.9393 = 2.8209 / 3 = 0.9403
Support for the first (S1) 0.9403 x 2 = 1.8806 - 0.9454 = 0.9352
Support second (S2) 0.9403 -( 0.9454 - 0.9362 = 0.0092 ) = 0.9311
Third Support (S3) 0.9362 -( 0.9454 - 0.9403 = 0.0051 x 2 = 0.0102 )= 0.9260