http://prntscr.com/53i7ya
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 1.1409
HIGH 1.1465
LOW 1.1370
CLOSED 1.1384
The third resistance (R3) 1.1465 -( 1.1406 - 1.1370 = 0.0036 x 2 = 0.0073 )= 1.1538
The second Resistance (R2) 1.1406 + 1.1465 - 1.1370 = 1.1501
First resistance (R1) 1.1406 x 2 = 2.2813 - 1.1370 = 1.1443
pivot points 1.1465 + 1.1370 + 1.1384 = 3.4219 / 3 = 1.1406
Support for the first (S1) 1.1406 x 2 = 2.2813 - 1.1465 = 1.1348
Support second (S2) 1.1406 -( 1.1465 - 1.1370 = 0.0095 ) = 1.1311
Third Support (S3) 1.1370 -( 1.1465 - 1.1406 = 0.0059 x 2 = 0.0117 )= 1.1253