analysis for today 7 / 18 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 7 / 17 / 2014
OPEN 1.5393
HIGH 1.5397
LOW 1.5342
CLOSED 1.5343
The third resistance (R3) 1.5397 -( 1.5361 - 1.5342 = 0.0019 x 2 = 0.0037 )= 1.5434
The second Resistance (R2) 1.5361 + 1.5397 - 1.5342 = 1.5416
First resistance (R1) 1.5361 x 2 = 3.0721 - 1.5342 = 1.5379
pivot points 1.5397 + 1.5342 + 1.5343 = 4.6082 / 3 = 1.5361
Support for the first (S1) 1.5361 x 2 = 3.0721 - 1.5397 = 1.5324
Support second (S2) 1.5361 -( 1.5397 - 1.5342 = 0.0055 ) = 1.5306
Third Support (S3) 1.5342 -( 1.5397 - 1.5361 = 0.0036 x 2 = 0.0073 )= 1.5269


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