http://prntscr.com/3tlehl
analysis for today 6 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 6 / 16 / 2014
OPEN 0.8285
HIGH 0.8297
LOW 0.8253
CLOSED 0.8268
The third resistance (R3) 0.8297 -( 0.8273 - 0.8253 = 0.0020 x 2 = 0.0039 )= 0.8336
The second Resistance (R2) 0.8273 + 0.8297 - 0.8253 = 0.8317
First resistance (R1) 0.8273 x 2 = 1.6545 - 0.8253 = 0.8292
pivot points 0.8297 + 0.8253 + 0.8268 = 2.4818 / 3 = 0.8273
Support for the first (S1) 0.8273 x 2 = 1.6545 - 0.8297 = 0.8248
Support second (S2) 0.8273 -( 0.8297 - 0.8253 = 0.0044 ) = 0.8229
Third Support (S3) 0.8253 -( 0.8297 - 0.8273 = 0.0024 x 2 = 0.0049 )= 0.8204


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