It is very important to determine the support and resistance in technical analysis in the Forex market. If you can properly determine the support and resistance level correctly, you can easily understand when you need to be entry and exit. Support and resistance can be determined in a variety of ways. Once the support level breaks in the market, the price goes down further to the next support level. And the previous support level is taken as resistance. Once the resistance level is broken, the market price increases further to the next resistance level. And the previous resistance level is then taken as support.
See a zigzag pattern in the image above, Where the uptrend is seen. The market has gone up a bit and gone down again. Resistance is latest high price, And support is latest low price level.
Forex Support and Resistance Identify
Remember that support and resistance is not a specific level or price. The latest swing high is resistance and latest low is support. Then you can draw horizontal level at least swing high and least swing low price.