http://prntscr.com/52uv0w
analysis for today 11 / 4 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle NZDCAD on the date 11 / 3 / 2014
OPEN 0.8767
HIGH 0.8785
LOW 0.8710
CLOSED 0.8764
The third resistance (R3) 0.8785 -( 0.8753 - 0.8710 = 0.0043 x 2 = 0.0086 )= 0.8871
The second Resistance (R2) 0.8753 + 0.8785 - 0.8710 = 0.8828
First resistance (R1) 0.8753 x 2 = 1.7506 - 0.8710 = 0.8796
pivot points 0.8785 + 0.8710 + 0.8764 = 2.6259 / 3 = 0.8753
Support for the first (S1) 0.8753 x 2 = 1.7506 - 0.8785 = 0.8721
Support second (S2) 0.8753 -( 0.8785 - 0.8710 = 0.0075 ) = 0.8678
Third Support (S3) 0.8710 -( 0.8785 - 0.8753 = 0.0032 x 2 = 0.0064 )= 0.8646