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Learn online forex trading - What is support and resistance indicator?

Support and resistance lines are another set of powerful indicators you would like to learn in online forex trading. Before I explain it, I would like you to watch the diagram very carefully.

As you can see there are some key lines at which the price movement bounces. If from a particular imaginary line, the price bounces and starts moving downwards thats a resistance line. Thats because there are lot of sellers at that imaginary line that selling pressure increases and moves the currency in opposite direction.

The oppostite holds true for Support line. Here after hitting this line, the prices starts goiing up.

Guys and Gals do understand this concept carefully as this is very important in concept to learn in online forex trading.

Now, a pop question - What happens when this support/resistance line is broken?? Yes!! Thats true, if this line is broken, the price jumps in thst direction. So, if resistance line is broken, price will shoot up considerably and opposite for support line.

So, thats all in todey's session.

Meanwhile, look carefully at the EUR/USD , GBP/USD and USD/CHF charts on 1 hr timezone..

It seems their trend has started as anti USD. So, looks like USD is going to get weak in coming days. I'll be watching all these currency pairs' movement in tomorrow morning's UK session.

You can view the free charts at
http://www.dailyfx.com

Also, an important update - I am going to give limited number of copies of a valuable free gift to all the readers in next few days. So, keep visiting this blog so that you don't miss out that.

So, keep visisting this blog to learn online forex trading.