No u don't stand corrected. Ofc limit orders won't make a market move. But just as theoretically when u jump earth moves with u, similarly there will be an unnoticed, theoretical Impact of Limit orders which is so small that none of us traders or even big banks need to worry about it.
BTW,Facts don't get old, Elliot wave has been with us since 1930, Fibonacci from 1200AD, so is this research even if it is 10 years old. With today's technology this research was possible to be made which had been hidden from our eyes for so long. Lastly 'about applicability to the FX market, given the size and decentralized nature, relative to the market that they studied', this fact is irrelevant to the type of market or its size, this effect may get magnified or diminished depending on a lot more factors than comprehend-able from a comment. Even when magnified it may still not be noticeable until a very small local market with global product demand is being studied.
So, u might wanna go through this paper before de crediting an honorable research.
Indicators are so deceiving, always lagging. Trend lines & Calendars are the best.