Support and Resistance is Simple, No Need to Make It Complicated

In forex and commodity trading, prices always move up and down due to supply and demand. The direction of the price movement can be estimated by means of technical analysis. One of them is by recognizing support and resistance levels.

In practice, currency prices in the forex market always move up and down. This is also influenced by supply and demand for these currencies. Then, there comes a time in the forex market where prices either stop moving up or stop moving down. This happens because the demand or supply is not large enough to cause forex prices to rise or fall.

In forex technical analysis, traders can predict when the supply or demand will get bigger. One way is to identify support and resistance levels.

Support is a price level area where the demand is large enough to hold the price down. At this level, the price tends to stop moving down and will most likely go up again. More simply, support is a level that is expected to hold a bearish move (down). Meanwhile, resistance is a price level area where the supply level is large enough to stop the price from rising. Resistance is a level that is expected to hold a bullish (up) movement.

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