http://prntscr.com/43hg94
analysis for today 7 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 7 / 16 / 2014
OPEN 95.21
HIGH 95.25
LOW 94.85
CLOSED 95.18
The third resistance (R3) 95.25 - ( 95.09 - 94.85 = 0.24 x 2 = 0.49 )= 95.74
The second Resistance (R2) 95.09 + 95.25 - 94.85 = 95.49
First resistance (R1) 95.09 x 2 = 190.19 - 94.85 = 95.34
pivot points 95.25 + 94.85 + 95.18 = 285.28 / 3 = 95.09
Support for the first (S1) 95.09 x 2 = 190.19 - 95.25 = 94.94
Support second (S2) 95.09 - ( 95.25 - 94.85 = 0.40 ) = 94.69
Third Support (S3) 94.85 - ( 95.25 - 95.09 = 0.16 x 2 = 0.31 )= 94.54