analysis for today 6 / 5 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 6 / 4 / 2014
OPEN 1.5011
HIGH 1.5025
LOW 1.1985
CLOSED 1.5014
The third resistance (R3) 1.5025 -( 1.4008 - 1.1985 = 0.2023 x 2 = 0.4046 )= 1.9071
The second Resistance (R2) 1.4008 + 1.5025 - 1.1985 = 1.7048
First resistance (R1) 1.4008 x 2 = 2.8016 - 1.1985 = 1.6031
pivot points 1.5025 + 1.1985 + 1.5014 = 4.2024 / 3 = 1.4008
Support for the first (S1) 1.4008 x 2 = 2.8016 - 1.5025 = 1.2991
Support second (S2) 1.4008 -( 1.5025 - 1.1985 = 0.3040 ) = 1.0968
Third Support (S3) 1.1985 -( 1.5025 - 1.4008 = 0.1017 x 2 = 0.2034 )= 0.9951


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