http://prntscr.com/404wx6
analysis for today 7 / 7 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 7 / 4 / 2014
OPEN 0.8394
HIGH 0.8415
LOW 0.8387
CLOSED 0.8389
The third resistance (R3) 0.8415 -( 0.8397 - 0.8387 = 0.0010 x 2 = 0.0020 )= 0.8435
The second Resistance (R2) 0.8397 + 0.8415 - 0.8387 = 0.8425
First resistance (R1) 0.8397 x 2 = 1.6794 - 0.8387 = 0.8407
pivot points 0.8415 + 0.8387 + 0.8389 = 2.5191 / 3 = 0.8397
Support for the first (S1) 0.8397 x 2 = 1.6794 - 0.8415 = 0.8379
Support second (S2) 0.8397 -( 0.8415 - 0.8387 = 0.0028 ) = 0.8369
Third Support (S3) 0.8387 -( 0.8415 - 0.8397 = 0.0018 x 2 = 0.0036 )= 0.8351


Thread: 
Thanks
Currently Active Users
Forex Forum India Statistics