http://prntscr.com/3yj25f
analysis for today 7 / 2 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDJPY on the date 7 / 1 / 2014
OPEN 95.50
HIGH 96.43
LOW 95.36
CLOSED 96.36
The third resistance (R3) 96.43 - ( 96.05 - 95.36 = 0.69 x 2 = 1.38 )= 97.81
The second Resistance (R2) 96.05 + 96.43 - 95.36 = 97.12
First resistance (R1) 96.05 x 2 = 192.10 - 95.36 = 96.74
pivot points 96.43 + 95.36 + 96.36 = 288.15 / 3 = 96.05
Support for the first (S1) 96.05 x 2 = 192.10 - 96.43 = 95.67
Support second (S2) 96.05 - ( 96.43 - 95.36 = 1.07 ) = 94.98
Third Support (S3) 95.36 - ( 96.43 - 96.05 = 0.38 x 2 = 0.76 )= 94.60