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analysis for today 10 / 13 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 10 / 10 / 2014
OPEN 1.5380
HIGH 1.5396
LOW 1.5315
CLOSED 1.5384
The third resistance (R3) 1.5396 -( 1.5365 - 1.5315 = 0.0050 x 2 = 0.0100 )= 1.5496
The second Resistance (R2) 1.5365 + 1.5396 - 1.5315 = 1.5446
First resistance (R1) 1.5365 x 2 = 3.0730 - 1.5315 = 1.5415
pivot points 1.5396 + 1.5315 + 1.5384 = 4.6095 / 3 = 1.5365
Support for the first (S1) 1.5365 x 2 = 3.0730 - 1.5396 = 1.5334
Support second (S2) 1.5365 -( 1.5396 - 1.5315 = 0.0081 ) = 1.5284
Third Support (S3) 1.5315 -( 1.5396 - 1.5365 = 0.0031 x 2 = 0.0062 )= 1.5253


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