analysis for today 5 / 14 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 5 / 13 / 2014
OPEN 0.8173
HIGH 0.8114
LOW 0.8159
CLOSED 0.8159
The third resistance (R3) 0.8114 -( 0.8144 - 0.8159 = -0.0015 x 2 = -0.0030 )= 0.8084
The second Resistance (R2) 0.8144 + 0.8114 - 0.8159 = 0.8099
First resistance (R1) 0.8144 x 2 = 1.6288 - 0.8159 = 0.8129
pivot points 0.8114 + 0.8159 + 0.8159 = 2.4432 / 3 = 0.8144
Support for the first (S1) 0.8144 x 2 = 1.6288 - 0.8114 = 0.8174
Support second (S2) 0.8144 -( 0.8114 - 0.8159 = -0.0045 ) = 0.8189
Third Support (S3) 0.8159 -( 0.8114 - 0.8144 = -0.0030 x 2 = -0.0060 )= 0.8219


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