We must agree that the EUR/USD is clearly overbought and may at any moment make a correction, specially now that it has reached the 1.3900 level, and that there is a higher probability of investors taking their profits off the table. Let us wait and see if indeed the price retraces from this zone.
That drop from the 1.3900 level has taken it close to the 1.3800, but it hasn't touch it quite yet. A visit to that level could give us a bounce to the upside, but I would prefer a visit to the 1.3787 level around the 200 EMA on the daily chart.
Just to add that all these comments about reaching 1.3900 and then shorting, etc must be put into the context of the time frame you are trading. Of course none of these comments are much important if you are trading on 5min or 15 min for example.
Although the main trend must be taken into account even when trading in those short time frames there are plenty of oportunities to go long, go short, etc until we reach those levels.