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analysis for today 11 / 4 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 11 / 3 / 2014
OPEN 0.8543
HIGH 0.8574
LOW 0.8478
CLOSED 0.8499
The third resistance (R3) 0.8574 -( 0.8517 - 0.8478 = 0.0039 x 2 = 0.0078 )= 0.8652
The second Resistance (R2) 0.8517 + 0.8574 - 0.8478 = 0.8613
First resistance (R1) 0.8517 x 2 = 1.7034 - 0.8478 = 0.8556
pivot points 0.8574 + 0.8478 + 0.8499 = 2.5551 / 3 = 0.8517
Support for the first (S1) 0.8517 x 2 = 1.7034 - 0.8574 = 0.8460
Support second (S2) 0.8517 -( 0.8574 - 0.8478 = 0.0096 ) = 0.8421
Third Support (S3) 0.8478 -( 0.8574 - 0.8517 = 0.0057 x 2 = 0.0114 )= 0.8364