http://prntscr.com/404yg3
analysis for today 7 / 7 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBPCHF on the date 7 / 4 / 2014
OPEN 1.5321
HIGH 1.5351
LOW 1.5320
CLOSED 1.5341
The third resistance (R3) 1.5351 -( 1.5337 - 1.5320 = 0.0017 x 2 = 0.0035 )= 1.5386
The second Resistance (R2) 1.5337 + 1.5351 - 1.5320 = 1.5368
First resistance (R1) 1.5337 x 2 = 3.0675 - 1.5320 = 1.5355
pivot points 1.5351 + 1.5320 + 1.5341 = 4.6012 / 3 = 1.5337
Support for the first (S1) 1.5337 x 2 = 3.0675 - 1.5351 = 1.5324
Support second (S2) 1.5337 -( 1.5351 - 1.5320 = 0.0031 ) = 1.5306
Third Support (S3) 1.5320 -( 1.5351 - 1.5337 = 0.0014 x 2 = 0.0027 )= 1.5293