analysis for today 12 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 12 / 18 / 2014
OPEN 96.30
HIGH 97.54
LOW 96.19
CLOSED 96.96
The third resistance (R3) 97.54 - ( 96.90 - 96.19 = 0.71 x 2 = 1.41 )= 98.95
The second Resistance (R2) 96.90 + 97.54 - 96.19 = 98.25
First resistance (R1) 96.90 x 2 = 193.79 - 96.19 = 97.60
pivot points 97.54 + 96.19 + 96.96 = 290.69 / 3 = 96.90
Support for the first (S1) 96.90 x 2 = 193.79 - 97.54 = 96.25
Support second (S2) 96.90 - ( 97.54 - 96.19 = 1.35 ) = 95.55
Third Support (S3) 96.19 - ( 97.54 - 96.90 = 0.64 x 2 = 1.29 )= 94.90