http://prntscr.com/53uehx
analysis for today 11 / 6 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CAD on the date 11 / 5 / 2014
OPEN 1.1385
HIGH 1.1442
LOW 1.1378
CLOSED 1.1423
The third resistance (R3) 1.1442 -( 1.1414 - 1.1378 = 0.0036 x 2 = 0.0073 )= 1.1515
The second Resistance (R2) 1.1414 + 1.1442 - 1.1378 = 1.1478
First resistance (R1) 1.1414 x 2 = 2.2829 - 1.1378 = 1.1451
pivot points 1.1442 + 1.1378 + 1.1423 = 3.4243 / 3 = 1.1414
Support for the first (S1) 1.1414 x 2 = 2.2829 - 1.1442 = 1.1387
Support second (S2) 1.1414 -( 1.1442 - 1.1378 = 0.0064 ) = 1.1350
Third Support (S3) 1.1378 -( 1.1442 - 1.1414 = 0.0028 x 2 = 0.0055 )= 1.1323