analysis for today 5 / 23 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle GBP / USD on the date 5 / 22 / 2014
OPEN 1.6898
HIGH 1.6913
LOW 1.6851
CLOSED 1.6870
The third resistance (R3) 1.6913 -( 1.6878 - 1.6851 = 0.0027 x 2 = 0.0054 )= 1.6967
The second Resistance (R2) 1.6878 + 1.6913 - 1.6851 = 1.6940
First resistance (R1) 1.6878 x 2 = 3.3756 - 1.6851 = 1.6905
pivot points 1.6913 + 1.6851 + 1.6870 = 5.0634 / 3 = 1.6878
Support for the first (S1) 1.6878 x 2 = 3.3756 - 1.6913 = 1.6843
Support second (S2) 1.6878 -( 1.6913 - 1.6851 = 0.0062 ) = 1.6816
Third Support (S3) 1.6851 -( 1.6913 - 1.6878 = 0.0035 x 2 = 0.0070 )= 1.6781
Below is the formula to determine the pivot point, support and resistance.
Information candle GBP / USD on the date 5 / 22 / 2014
OPEN 1.6898
HIGH 1.6913
LOW 1.6851
CLOSED 1.6870
The third resistance (R3) 1.6913 -( 1.6878 - 1.6851 = 0.0027 x 2 = 0.0054 )= 1.6967
The second Resistance (R2) 1.6878 + 1.6913 - 1.6851 = 1.6940
First resistance (R1) 1.6878 x 2 = 3.3756 - 1.6851 = 1.6905
pivot points 1.6913 + 1.6851 + 1.6870 = 5.0634 / 3 = 1.6878
Support for the first (S1) 1.6878 x 2 = 3.3756 - 1.6913 = 1.6843
Support second (S2) 1.6878 -( 1.6913 - 1.6851 = 0.0062 ) = 1.6816
Third Support (S3) 1.6851 -( 1.6913 - 1.6878 = 0.0035 x 2 = 0.0070 )= 1.6781
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