What are terms amp;#39;moving averagesamp;#39;, amp;#39;supportamp;#39;, amp;#39;resistanceamp;#39;, amp;#39;pivot points, etc in Forex? -

Register to download a Free Forex Ebook from this site. You will get from the book the meanings of all the terminologies you want to know. support and resistance is same for forex as anything else, if euro-dollar keeps retracing down everytime it rises to 1.56, that is its current resistance, if it keeps going down to 1.53, let s say, and then bouncing back up, that is its current support. Sometimes its referred to as quot;channelingquot; between the two. A moving average is also the same as stocks: if it s 10 week moving average is 1.54, that was its average over the last 10 weeks, or whatever increment is popular in forex. quot;movingquot; because when calculated the next day, the first day of yesterdays 10 weeks drops off, and the current day is added. I found a good explanation of how to calculate pivot point, and what it does for you, at http://www.straightforex.com/pivot.html This site has all kinds of information on trading you might want to check it out.