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Differences between the Foreign Exchange Market and Stock Market May 23, 2022
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Secondary Trend

Mira Team by Mira Team
January 14, 2021
in Forex Terms
Reading Time: 1 min read
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Definition – What does Secondary Trend mean?

A secondary trend refers to short term market movements that deviate from the primary trend, temporarily taking a currency pair in the opposite direction. Secondary trends can last for different periods of time, from an hour to a month. After the secondary trend runs its course, the primary trend is re-established.

ForexTerms explains Secondary Trend

Secondary trends are difficult to call in real-time because, if a secondary trend lasts long enough and establishes support, it may become the new primary trend. When a currency pair breaks a primary trend and runs on a secondary trend for days at a time, distinguishing primary from secondary becomes more of an art or a matter of opinion. Only on a long-term chart – created after the events – can the primary and secondary trends be clearly identified. Generally speaking, fundamental traders focus on the primary trend and technical traders on the secondary trends.

ⓘ Mira FX is not liable for any damage or loss, including but not limited to, any loss of investment, which may be based either directly orindirectly on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange or financial markets or any other type of financial instrument, please carefully consider your investment objectives, level of experience and risk appetite.

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