http://prntscr.com/49pj1q
analysis for today 8 / 5 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 8 / 4 / 2014
OPEN 1.5244
HIGH 1.5288
LOW 1.5234
CLOSED 1.5287
The third resistance (R3) 1.5288 -( 1.5270 - 1.5234 = 0.0036 x 2 = 0.0071 )= 1.5359
The second Resistance (R2) 1.5270 + 1.5288 - 1.5234 = 1.5324
First resistance (R1) 1.5270 x 2 = 3.0539 - 1.5234 = 1.5305
pivot points 1.5288 + 1.5234 + 1.5287 = 4.5809 / 3 = 1.5270
Support for the first (S1) 1.5270 x 2 = 3.0539 - 1.5288 = 1.5251
Support second (S2) 1.5270 -( 1.5288 - 1.5234 = 0.0054 ) = 1.5216
Third Support (S3) 1.5234 -( 1.5288 - 1.5270 = 0.0018 x 2 = 0.0037 )= 1.5197


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