analysis for today 5 / 14 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBP / USD on the date 5 / 13 / 2014
OPEN 1.6867
HIGH 1.6882
LOW 1.6818
CLOSED 1.6824
The third resistance (R3) 1.6882 -( 1.6841 - 1.6818 = 0.0023 x 2 = 0.0047 )= 1.6929
The second Resistance (R2) 1.6841 + 1.6882 - 1.6818 = 1.6905
First resistance (R1) 1.6841 x 2 = 3.3683 - 1.6818 = 1.6865
pivot points 1.6882 + 1.6818 + 1.6824 = 5.0524 / 3 = 1.6841
Support for the first (S1) 1.6841 x 2 = 3.3683 - 1.6882 = 1.6801
Support second (S2) 1.6841 -( 1.6882 - 1.6818 = 0.0064 ) = 1.6777
Third Support (S3) 1.6818 -( 1.6882 - 1.6841 = 0.0041 x 2 = 0.0081 )= 1.6737
Below is the formula to determine the pivot point, support and resistance.
Information candle GBP / USD on the date 5 / 13 / 2014
OPEN 1.6867
HIGH 1.6882
LOW 1.6818
CLOSED 1.6824
The third resistance (R3) 1.6882 -( 1.6841 - 1.6818 = 0.0023 x 2 = 0.0047 )= 1.6929
The second Resistance (R2) 1.6841 + 1.6882 - 1.6818 = 1.6905
First resistance (R1) 1.6841 x 2 = 3.3683 - 1.6818 = 1.6865
pivot points 1.6882 + 1.6818 + 1.6824 = 5.0524 / 3 = 1.6841
Support for the first (S1) 1.6841 x 2 = 3.3683 - 1.6882 = 1.6801
Support second (S2) 1.6841 -( 1.6882 - 1.6818 = 0.0064 ) = 1.6777
Third Support (S3) 1.6818 -( 1.6882 - 1.6841 = 0.0041 x 2 = 0.0081 )= 1.6737
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