Dr Carol Osler is a programme director and professor at the Brandeis International Business School, where her research focuses on currency markets. She received her BA from Swarthmore College and her PhD from Princeton University. She taught at the Amos Tuck School of Business at Dartmouth College before joining the New York Fed. Dr Osler has also taught at Columbia University and the Kellogg School at Northwestern University and is currently a visiting academic at Warwick Business School.
Her early research focused on technical trading, which has long been standard operating procedure for most currency traders. Her research on the head-andshoulders pattern, one of the first rigorous tests of a visual chart pattern, showed that trading on this pattern is profitable in two of the major currencies, dollar-yen and dollar-DEM. She also showed that support and resistance levels from professional technical analysts have significant predictive power for major exchange rates. Additional research identifies order clustering as a potential source of the predictive power of these technical levels.