The concept of support and resistance Forex is very important for traders. Basically, Support and resistance Forex represents areas of price movement that are expected to be blocked or not. Let’s study the details.
Support is a falling price level that tends to slow down or reverse. That is, the price is more likely to “bounce” from this level than to break through it. However, if the price turns out to have passed this level, most likely the price will continue to fall until it finds another support level.
Resistance is the level of prices that are rising, tend to slow down or reverse. The price is more likely to bounce down from this level than to break through it. However, if the price turns out to break this level upwards, it will open the way for the price to continue rising until it finds another resistance level. Then, how …