analysis for today 12 / 22 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EURNZD on the date 12 / 19 / 2014
OPEN 1.5820
HIGH 1.5832
LOW 1.5744
CLOSED 1.5779
The third resistance (R3) 1.5832 -( 1.5785 - 1.5744 = 0.0041 x 2 = 0.0082 )= 1.5914
The second Resistance (R2) 1.5785 + 1.5832 - 1.5744 = 1.5873
First resistance (R1) 1.5785 x 2 = 3.1570 - 1.5744 = 1.5826
pivot points 1.5832 + 1.5744 + 1.5779 = 4.7355 / 3 = 1.5785
Support for the first (S1) 1.5785 x 2 = 3.1570 - 1.5832 = 1.5738
Support second (S2) 1.5785 -( 1.5832 - 1.5744 = 0.0088 ) = 1.5697
Third Support (S3) 1.5744 -( 1.5832 - 1.5785 = 0.0047 x 2 = 0.0094 )= 1.5650