Glossary · Chart and price

Support

A price area below the current price where declines have repeatedly stopped and bounced, suggesting buyers tend to step in there.

By Sky Trade editorial teamUpdated November 5, 2026

Support is a floor the market has respected before. When price falls into it, buying interest has tended to appear, slowing or reversing the decline. Support often forms at previous lows, round numbers (1.0800, 150.00), former resistance and, for some traders, moving averages or Fibonacci levels.

Think of support as a zone, not a precise line. Price may dip a few pips below a level and still respect it. The more often a level has held, and the cleaner the bounces, the more traders watch it — which also means the move can be sharp when it finally breaks.

Common errors:

Drawing levels on every small wiggle until the chart is full of lines that mean nothing.
Treating a level as a promise of a bounce. It marks where a reaction is more likely to be watched for, not where one must happen.
Forgetting role reversal: broken support often becomes resistance.

Sky Trade's drawing tools include a horizontal level and a rectangle, which suits marking zones rather than single prices. Read the full guide on support and resistance.

Example

EUR/USD has bounced from 1.0800–1.0805 three times this week. A fourth touch is a candidate for a Higher trade; a decisive close at 1.0785 would show the support has failed.

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