Support is a price level (often an area, not an EXACT price) that traders tend to buy at. This often prevents price from falling below this level, thus creating a "floor" below which the price has difficulty moving.
Note that support can be defined by a horizontal or slanted line. The more times price tests and fails to break through (or close beyond) support, the stronger the support level is considered to be.
See Resistance.
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Articles in Forex Traders Glossary
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Support -
03-16-2010, 06:36 AM
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