EUR/USD has stalled at the 78.6% retracement of the October 15th/19th correction. This suggests the completion of wave b within the ongoing wave 4 correction. Wave c is anticipated to test the 1.3773/1.3824 region before giving way to the formation of wave d. Watch for bullish hourly diverging studies to hint of the completion of wave c. Meanwhile, the DXY (US Dollar Index) remains shielded from key long-term trendline support near the 76 handle while trading above shoulder support of a possible inverse head & shoulders pattern.
