The concept of support level generally strengthens trader’s hand on the global forex market. Because, the trader knows the price level will decrease under the support level hardly. So, they are able to make purchasing transactions on this commodities or currency pairs easily. If you want to start trading on forex market, you need to be able to read the movements of the financial market very well. There are a lot of methods of analysis when studying the markets. One of these methods is technical analysis. In this analysis method, the movements of the market that can be monitored during the interpretation of the graphs are used. When evaluating support and resistance levels, they are determined by the market with technical analysis.
When the market reaches the support level which is determined by market conditions, the demand will surpass the supply level. So, the people will demand more purchasing the positions more than the past times. We can say, support level is playing an important role while determining the purchasing point on the global forex market. Support prices will be reduced while approaching the point when the number of investors who want to sell, and investors who no longer want to buy thinking that you will get the price has reached a good level. For this reason, the prices will start to fall. This continues in a continuous loop.
- Date: 16 October 2016 Sun 02:49
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