http://prntscr.com/3u91w5
analysis for today 6 / 19 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle NZDJPY on the date 6 / 18 / 2014
OPEN 88.40
HIGH 89.01
LOW 88.35
CLOSED 88.96
The third resistance (R3) 89.01 - ( 88.77 - 88.35 = 0.42 x 2 = 0.85 )= 89.86
The second Resistance (R2) 88.77 + 89.01 - 88.35 = 89.43
First resistance (R1) 88.77 x 2 = 177.55 - 88.35 = 89.20
pivot points 89.01 + 88.35 + 88.96 = 266.32 / 3 = 88.77
Support for the first (S1) 88.77 x 2 = 177.55 - 89.01 = 88.54
Support second (S2) 88.77 - ( 89.01 - 88.35 = 0.66 ) = 88.11
Third Support (S3) 88.35 - ( 89.01 - 88.77 = 0.24 x 2 = 0.47 )= 87.88