http://prntscr.com/4dwhlc
analysis for today 8 / 18 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUD/USD on the date 8 / 15 / 2014
OPEN 0.9317
HIGH 0.9333
LOW 0.9297
CLOSED 0.9320
The third resistance (R3) 0.9333 -( 0.9317 - 0.9297 = 0.0020 x 2 = 0.0039
The second Resistance (R2) 0.9317 + 0.9333 - 0.9297 = 0.9353
First resistance (R1) 0.9317 x 2 = 1.8633 - 0.9297 = 0.9336
pivot points 0.9333 + 0.9297 + 0.9320 = 2.7950 / 3 = 0.9317
Support for the first (S1) 0.9317 x 2 = 1.8633 - 0.9333 = 0.9300
Support second (S2) 0.9317 -( 0.9333 - 0.9297 = 0.0036 ) = 0.9281
Third Support (S3) 0.9297 -( 0.9333 - 0.9317 = 0.0016 x 2 = 0.0033


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