Forex Education & Resources
This educational video seminar explains the basics of support and resistance levels in forex trading. It shows how to use these technical indicators on charts in FXCM’s Trading Station.
Support and resistance levels are important in terms of market psychology and supply and demand. They are the levels at which most traders are willing to buy (support) a currency, or sell it (resistance).
When support and resistance trend lines are broken, the supply and demand and the psychology behind the currency’s movements is thought to have shifted, in which case new levels of support and resistance will likely be established.
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