Which of the Following Premises Is Technical Analysis,an Approach to Exchange

Multiple Choice

Which of the following premises is technical analysis,an approach to exchange rate forecasting,based on?

A) Price and volume data cannot be used to determine past trends.
B) Econometric models drawn from economic theory are best suited to predict exchange rate movements.
C) The foreign exchange market is efficient and forward exchange rates are best predictors of future spot exchange rates.
D) Previous market trends and waves can be used to predict future market trends and waves.
E) Since forward exchange rates are best predictors of future spot rates, it makes no sense to invest in forecasting.