analysis for today 12 / 22 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle AUDCHF on the date 12 / 19 / 2014
OPEN 0.7998
HIGH 0.8033
LOW 0.7982
CLOSED 0.8014
The third resistance (R3) 0.8033 -( 0.8010 - 0.7982 = 0.0028 x 2 = 0.0055 )= 0.8088
The second Resistance (R2) 0.8010 + 0.8033 - 0.7982 = 0.8061
First resistance (R1) 0.8010 x 2 = 1.6019 - 0.7982 = 0.8037
pivot points 0.8033 + 0.7982 + 0.8014 = 2.4029 / 3 = 0.8010
Support for the first (S1) 0.8010 x 2 = 1.6019 - 0.8033 = 0.7986
Support second (S2) 0.8010 -( 0.8033 - 0.7982 = 0.0051 ) = 0.7959
Third Support (S3) 0.7982 -( 0.8033 - 0.8010 = 0.0023 x 2 = 0.0047 )= 0.7935


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