http://prntscr.com/42hmd8
analysis for today 7 / 14 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDCHF on the date 7 / 11 / 2014
OPEN 0.8381
HIGH 0.8398
LOW 0.8369
CLOSED 0.8375
The third resistance (R3) 0.8398 -( 0.8381 - 0.8369 = 0.0012 x 2 = 0.0023 )= 0.8421
The second Resistance (R2) 0.8381 + 0.8398 - 0.8369 = 0.8410
First resistance (R1) 0.8381 x 2 = 1.6761 - 0.8369 = 0.8392
pivot points 0.8398 + 0.8369 + 0.8375 = 2.5142 / 3 = 0.8381
Support for the first (S1) 0.8381 x 2 = 1.6761 - 0.8398 = 0.8363
Support second (S2) 0.8381 -( 0.8398 - 0.8369 = 0.0029 ) = 0.8352
Third Support (S3) 0.8369 -( 0.8398 - 0.8381 = 0.0017 x 2 = 0.0035 )= 0.8334


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