Suppose a European investor invests in the U.S. equity market. If the U.S. equity market generates a positive holding period return in the U.S. currency while euro appreciates against the U.S. dollar, which of the following statements is/are guaranteed to be correct?

A. Holding period return in euro is negative.

B. Holding period return in euro is higher than holding period return in U.S. dollar.

C. Holding period return in euro is positive.

D. Holding period return in euro is lower than holding period return in U.S. dollar.

E. Both B and C are guaranteed to be correct.

F. Both A and D are guaranteed to be correct.