What is support and resistance in forex?


To your question what is support and resistance, we can answer as follows. Support and resistance in forex is one of the most used techniques. This is because it is one of the most powerful tools to use in trading. Before we move on to the basics, you need to understand that everyone has their own idea of where and how resistance and support was formed. Strange as it may sound, we will show you examples later in the article. But now we start with information for beginners to forex trading. Unlike most websites and videos on youtube, here we will give you examples drawn on the chart of a particular traded instrument. If we look at the image above we can see the uptrend (bull market) ,the price of the currency pair EURUSD rises. On the chart we have [...]