http://prntscr.com/57734l
analysis for today 11 / 17 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle EURNZD on the date 11 / 14 / 2014
OPEN 1.5825
HIGH 1.5872
LOW 1.5776
CLOSED 1.5834
The third resistance (R3) 1.5872 -( 1.5827 - 1.5776 = 0.0051 x 2 = 0.0103 )= 1.5975
The second Resistance (R2) 1.5827 + 1.5872 - 1.5776 = 1.5923
First resistance (R1) 1.5827 x 2 = 3.1655 - 1.5776 = 1.5879
pivot points 1.5872 + 1.5776 + 1.5834 = 4.7482 / 3 = 1.5827
Support for the first (S1) 1.5827 x 2 = 3.1655 - 1.5872 = 1.5783
Support second (S2) 1.5827 -( 1.5872 - 1.5776 = 0.0096 ) = 1.5731
Third Support (S3) 1.5776 -( 1.5872 - 1.5827 = 0.0045 x 2 = 0.0089 )= 1.5687