Currency Orders and Exchange Rate Dynamics: An Explanation for the Predictive Success of Technical Analysis

By Carol Osler. 2003

214 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/982460b5ddd9c8928976ce53f45c280cfc97b152

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In Economics and Econometrics

Citations in the corpus

Exchange Rate Fundamentals and Order Flow (2012, unknown): “Osler (2003) examines end-user stop-loss orders.”
What really causes large price changes? (2003, background): “Clustering of limit orders, as well as stop-loss and takeprofit orders, is also studied in [32, 33, 51].”
The Obstinate Passion of Foreign Exchange Professionals: Technical Analysis (2007, methodology): “…has been the introduction of the bootstrap approach addressing the problem of insignificant evidence (Levich and Thomas, 1993; LeBaron, 1999, 2000; Osler, 2000, 2003) and, more recently, the introduction of methods for testing for potential data-snooping bias (Park and Irwin, 2005; Qi and Wu,…”
Institutional Investors, Past Performance, and Dynamic Loss Aversion (2009, background): “A related view is that institutional investors follow risk-managementmotivated stop-loss rules that require them to cut exposure in the wake of a significant loss (Osler (2003)).”
Foreign Exchange Market Structure, Players and Evolution (2012, unknown): “…though they do not normally monitor the market closely, by using “take-profit” orders, effectively hiring the dealer to monitor the market for them (Osler, 2005, 2003).13 Because of their different trading motivations, financial and corporate customers appear to play different roles in exchange…”
Under the microscope: the structure of the foreign exchange market (2006, background): “As a result, price breaks of key technical levels typically extend further in the short term than they otherwise would in the absence of leverage interdealer trading (Osler, 2002, 2003).”
STOP-LOSS ORDERS AND PRICE CASCADES IN CURRENCY MARKETS (2002, background): “8 Osler (2002) discusses motives for placing stop-loss and take-profit orders.”
Arbitrage in the foreign exchange market: Turning on the microscope (2008, background): “…to international currency patterns, trading behavior, and the role of order flow in explaining exchange rate movements (e.g. Lyons, 1995, 2001; Osler, 2000, 2003, 2005; Covrig and Melvin, 2002; Evans, 2002; Evans and Lyons, 2002a,b, 2005; Payne, 2003; Bjønnes and Rime, 2005; Lyons and…”
Does intraday technical analysis in the U.S. equity market have value (2008, background): “This is important because it is heavily used by practitioners over this time horizon, and recent papers by Kavajecz and OddersWhite (2004) and Osler (2003) find evidence of order clustering that is consistent with the propositions of technical analysis.”
How is Macro News Transmitted to Exchange Rates (2008, unknown): “Osler (2003) reports evidence on the types of orders non-marketmakers actually submit.”
Order Dynamics: Recent Evidence from the NYSE (2003, background): “Osler (2003), in the foreign exchange market, and Kavajecz and Odder-White (2004), in the stock market, show that the value of technical analysis is tied to information about the limit order book.”