a What is meant by technical forecasting and why is it subject to relatively few academic papers compared to other approaches to modelling?

b Determine whether the following excerpts from the press are based on technical analysis or fundamental analysis.

‘The Pound (GBP) dropped on Monday afternoon as media headlines suggested that England would not be reinstating new restrictions in spite of a rise in Coronavirus cases, causing tension for investors.’

‘New Zealand’s Dollar opened the new year on the defensive as the late December rally in NZD/USD began to reverse, with the main Kiwi exchange rate slipping back toward last month’s lows near to the round number of 0.67.’

‘If Bitcoin falls below that, it could drop back to last September’s lows around $39,500, while a move above

$49,000 would be needed for a “larger bounce” to take hold, Fundstrat says.’

‘The spot’s daily closing above the 50-Daily Moving Average (DMA) resistance, now at 11.78, on Tuesday, prompted a fresh upswing beyond 12.00. having bounced off the critical 100-DMA support in the previous week.’