http://prntscr.com/4ryq7r
analysis for today 10 / 1 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/CHF on the date 9 / 30 / 2014
OPEN 0.9512
HIGH 0.9596
LOW 0.9498
CLOSED 0.9549
The third resistance (R3) 0.9596 -( 0.9548 - 0.9498 = 0.0050 x 2 = 0.0099 )= 0.9695
The second Resistance (R2) 0.9548 + 0.9596 - 0.9498 = 0.9646
First resistance (R1) 0.9548 x 2 = 1.9095 - 0.9498 = 0.9597
pivot points 0.9596 + 0.9498 + 0.9549 = 2.8643 / 3 = 0.9548
Support for the first (S1) 0.9548 x 2 = 1.9095 - 0.9596 = 0.9499
Support second (S2) 0.9548 -( 0.9596 - 0.9498 = 0.0098 ) = 0.9450
Third Support (S3) 0.9498 -( 0.9596 - 0.9548 = 0.0048 x 2 = 0.0097 )= 0.9401


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