This file is part of IDEAS , which uses RePEc data
[ Papers |
Articles |
Software |
Books |
Chapters |
Authors |
Institutions |
JEL Classification |
NEP reports |
Search |
New papers by email |
Author registration |
Rankings |
Volunteers |
FAQ |
Blog |
Help! ]
Support for resistance: technical analysis and intraday exchange rates Author info | Abstract | Publisher info | Download info | Related research | Statistics Carol Osler
Additional information is available for the following
registered author(s):
“Support” and “resistance” levels—points at which an exchange rate trend may be interrupted and reversed—are widely used for short-term exchange rate forecasting. Nevertheless, the levels’ ability to predict intraday trend interruptions has never been rigorously evaluated. This article undertakes such an analysis, using support and resistance levels provided to customers by six firms active in the foreign exchange market. The author offers strong evidence that the levels help to predict intraday trend interruptions. However, the levels’ predictive power is found to vary across the exchange rates and firms examined.
To download:
If you experience problems downloading a file, check if you have the
proper application to
view it first. Information about this may be contained
in the File-Format links below. In case of further problems read
the IDEAS help
page . Note that these files are not on the IDEAS
site. Please be patient as the files may be large.
Article provided by Federal Reserve Bank of New York in its journal Economic Policy Review .
Volume (Year): (2000)
Issue (Month): Jul ()
Pages: 53-68
Download reference. The following formats are available: HTML
(with abstract ),
plain text
(with abstract ),
BibTeX ,
RIS (EndNote, RefMan, ProCite),
ReDIF
Handle: RePEc:fip:fednep:y:2000:i:jul:p:53-68:n:v.6no.2Contact details of provider: Postal: 33 Liberty Street, New York, NY 10045-0001 Email: Web page: http://www.newyorkfed.org/ More information through EDIRC
Order Information: Email: Web: http://www.ny.frb.org/rmaghome/staff_rp/
For technical questions regarding this item, or to correct its listing, contact: (Diane Rosenberger).
Keywords: Foreign exchange rates ; Forecasting ; Other versions of this item:
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.: Lui, Yu-Hon & Mole, David, 1998.
"The use of fundamental and technical analyses by foreign exchange dealers: Hong Kong evidence ,"
Journal of International Money and Finance ,
Elsevier, vol. 17(3), pages 535-545, June.
[Downloadable!] (restricted)
Sweeney, Richard J, 1986.
" Beating the Foreign Exchange Market ,"
Journal of Finance ,
American Finance Association, vol. 41(1), pages 163-82, March.
[Downloadable!] (restricted)
Andrew W. Lo & Harry Mamaysky & Jiang Wang, 2000.
"Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation ,"
NBER Working Papers
7613, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Andrew Lo & Harry Mamaysky & Jiang Wang, 1999.
"Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation ,"
Computing in Economics and Finance 1999
402, Society for Computational Economics.
[Downloadable!] Andrew W. Lo & Harry Mamaysky & Jiang Wang, 2000.
"Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation ,"
Journal of Finance ,
American Finance Association, vol. 55(4), pages 1705-1770, 08.
[Downloadable!] (restricted) Yin-Wong Cheung & Menzie D. Chinn, 1999.
"Traders, Market Microstructure and Exchange Rate Dynamics ,"
NBER Working Papers
7416, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Blake LeBaron, 1994.
"Technical Trading Rule Profitability and Foreign Exchange Intervention ,"
International Finance
9411002, EconWPA.
[Downloadable!]
Other versions: Curcio, Riccardo, et al, 1997.
"Do Technical Trading Rules Generate Profits? Conclusions from the Intra-day Foreign Exchange Market ,"
International Journal of Finance & Economics ,
John Wiley & Sons, Ltd., vol. 2(4), pages 267-80, October.
[Downloadable!] (restricted)
Brock, William & Lakonishok, Josef & LeBaron, Blake, 1992.
" Simple Technical Trading Rules and the Stochastic Properties of Stock Returns ,"
Journal of Finance ,
American Finance Association, vol. 47(5), pages 1731-64, December.
[Downloadable!] (restricted)
Other versions: Szakmary, Andrew C. & Mathur, Ike, 1997.
"Central bank intervention and trading rule profits in foreign exchange markets ,"
Journal of International Money and Finance ,
Elsevier, vol. 16(4), pages 513-535, August.
[Downloadable!] (restricted)
Torben G. Andersen & Tim Bollerslev, 1998.
"Deutsche Mark-Dollar Volatility: Intraday Activity Patterns, Macroeconomic Announcements, and Longer Run Dependencies ,"
Journal of Finance ,
American Finance Association, vol. 53(1), pages 219-265, 02.
[Downloadable!] (restricted)
Jon Danielsson & Richard Payne, 1999.
"Real Trading Patterns and Prices in Spot Foreign Exchange Markets ,"
FMG Discussion Papers
dp320, Financial Markets Group.
[Downloadable!] (restricted)
Other versions: Goodhart, C. A. E. & Figliuoli, L., 1991.
"Every minute counts in financial markets ,"
Journal of International Money and Finance ,
Elsevier, vol. 10(1), pages 23-52, March.
[Downloadable!] (restricted)
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Andreas Fischer, 2004.
"Price Clustering in the FX Market: A Disaggregate Analysis using Central Bank Interventions ,"
Working Papers
04.04, Swiss National Bank, Study Center Gerzensee.
[Downloadable!]
Other versions: Thomas Klitgaard & Laura Weir, 2004.
"Exchange rate changes and net positions of speculators in the futures market ,"
Economic Policy Review ,
Federal Reserve Bank of New York, issue May, pages 17-28.
[Downloadable!]
Stephan Schulmeister, 2007.
"The Interaction Between the Aggregate Behaviour of Technical Trading Systems and Stock Price Dynamics ,"
WIFO Working Papers
290, WIFO.
[Downloadable!]
Christopher J. Neely & Paul A. Weller, 2001.
"Intraday technical trading in the foreign exchange market ,"
Working Papers
1999-016, Federal Reserve Bank of St. Louis.
[Downloadable!]
Other versions:
Paul Weller & Christopher Neely, 1999.
"Intraday Technical Trading in the Foreign Exchange Market ,"
Working Papers
wp99-02, Warwick Business School, Financial Econometrics Research Centre.
[Downloadable!] Neely, C. J. & Weller, P. A., 2003.
"Intraday technical trading in the foreign exchange market ,"
Journal of International Money and Finance ,
Elsevier, vol. 22(2), pages 223-237, April.
[Downloadable!] (restricted) Menkhoff, Lukas & Taylor, Mark P., 2006.
"The Obstinate Passion of Foreign Exchange Professionals : Technical Analysis ,"
The Warwick Economics Research Paper Series (TWERPS)
769, University of Warwick, Department of Economics.
[Downloadable!]
Other versions:
Menkhoff, Lukas & Taylor, Mark P., 2006.
"The Obstinate Passion of Foreign Exchange Professionals: Technical Analysis ,"
Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Universität Hannover
dp-352, Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
[Downloadable!] Lukas Menkhoff & Mark P. Taylor, 2007.
"The Obstinate Passion of Foreign Exchange Professionals: Technical Analysis ,"
Journal of Economic Literature ,
American Economic Association, vol. 45(4), pages 936-972, December.
Nguyen, James, 2004.
"The Efficient Market Hypothesis: Is It Applicable to the Foreign Exchange Market? ,"
Economics Working Papers
wp04-20, School of Economics, University of Wollongong, NSW, Australia.
[Downloadable!]
Thomas Gehrig & Lukas Menkhoff, 2006.
"Extended evidence on the use of technical analysis in foreign exchange ,"
International Journal of Finance & Economics ,
John Wiley & Sons, Ltd., vol. 11(4), pages 327-338.
[Downloadable!]
Gehrig, Thomas & Menkhoff, Lukas, 2003.
"Technical Analysis in Foreign Exchange - The Workhorse Gains Further Ground ,"
Diskussionspapiere der Wirtschaftswissenschaftlichen Fakultät der Universität Hannover
dp-278, Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
[Downloadable!]
Carol L. Osler, 2001.
"Currency orders and exchange-rate dynamics: explaining the success of technical analysis ,"
Staff Reports
125, Federal Reserve Bank of New York.
[Downloadable!]
Alvaro Montenegro, 2006.
"La Información Bursátil en Colombia ,"
DOCUMENTOS DE ECONOMÃA
003031, UNIVERSIDAD JAVERIANA - BOGOTÁ.
[Downloadable!]
Canegrati, Emanuele, 2008.
"A Non-Random Walk down Canary Wharf ,"
MPRA Paper
9871, University Library of Munich, Germany.
[Downloadable!]
Q. Farooq Akram, & Dagfinn Rime & Lucio Sarno, 2005.
"Arbitrage in the foreign exchange market: Turning on the microscope ,"
Working Paper
2005/12, Norges Bank.
[Downloadable!]
Other versions:
Akram, Qaisar Farooq & Rime, Dagfinn & Sarno, Lucio, 2008.
"Arbitrage in the Foreign Exchange Market: Turning on the Microscope ,"
CEPR Discussion Papers
6878, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted) Akram, Q. Farooq & Rime, Dagfinn & Sarno, Lucio, 2006.
"Arbitrage in the Foreign Exchange Market: Turning on the Microscope ,"
SIFR Research Report Series
42, Institute for Financial Research.
[Downloadable!] Akram, Q. Farooq & Rime, Dagfinn & Sarno, Lucio, 2008.
"Arbitrage in the foreign exchange market: Turning on the microscope ,"
Journal of International Economics ,
Elsevier, vol. 76(2), pages 237-253, December.
[Downloadable!] (restricted)
Access and
download statistics Did you know? Citation analysis on IDEAS includes online papers that are freely accessible and whose text could be automatically analyzed, currently about 210000 papers.
This page was last updated on 2009-11-7.
This information is provided to you by IDEAS at the Department of Economics , College of Liberal Arts and Sciences , University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics .