http://prntscr.com/557gob
analysis for today 11 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CAD on the date 11 / 10 / 2014
OPEN 1.1326
HIGH 1.1383
LOW 1.1299
CLOSED 1.1379
The third resistance (R3) 1.1383 -( 1.1354 - 1.1299 = 0.0055 x 2 = 0.0109 )= 1.1492
The second Resistance (R2) 1.1354 + 1.1383 - 1.1299 = 1.1438
First resistance (R1) 1.1354 x 2 = 2.2707 - 1.1299 = 1.1408
pivot points 1.1383 + 1.1299 + 1.1379 = 3.4061 / 3 = 1.1354
Support for the first (S1) 1.1354 x 2 = 2.2707 - 1.1383 = 1.1324
Support second (S2) 1.1354 -( 1.1383 - 1.1299 = 0.0084 ) = 1.1270
Third Support (S3) 1.1299 -( 1.1383 - 1.1354 = 0.0029 x 2 = 0.0059 )= 1.1240