Forex support defined
If you want to learn how to trade support and resistance properly first you have to learn how to identify and define true support and resistance levels with accuracy.
Support is a level that the price of a commodity, share, currency or index becomes supported at. It is the level that buyers agree is good value and start buying whilst sellers agree is not good value any more and get out of their sell trades.
Support can also be called the demand level, it is the level or price that demand for a stock or currency is strong.
Support can also be called the area of fair value or price balance.