http://prntscr.com/3rnuvd
analysis for today 6 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EURGBP on the date 6 / 10 / 2014
OPEN 0.8087
HIGH 0.8093
LOW 0.8063
CLOSED 0.8082
The third resistance (R3) 0.8093 -( 0.8079 - 0.8063 = 0.0016 x 2 = 0.0033 )= 0.8126
The second Resistance (R2) 0.8079 + 0.8093 - 0.8063 = 0.8109
First resistance (R1) 0.8079 x 2 = 1.6159 - 0.8063 = 0.8096
pivot points 0.8093 + 0.8063 + 0.8082 = 2.4238 / 3 = 0.8079
Support for the first (S1) 0.8079 x 2 = 1.6159 - 0.8093 = 0.8066
Support second (S2) 0.8079 -( 0.8093 - 0.8063 = 0.0030 ) = 0.8049
Third Support (S3) 0.8063 -( 0.8093 - 0.8079 = 0.0014 x 2 = 0.0027 )= 0.8036