What if and that is a big what if, the big boys are already taking profits off their celebrated longs.
I notice that dips are often sharp and fast suggesting big trade executed, often followed by a slower ascend of the EUR/USD, possibly courtesy of retail traders like you and me, eager to join the party.
The big boys make up most of the forex market and one day when all of the big EUR/USD long positions are closed, the party will collapse.
On a side note, S&P 500 was red yesterday and is only slightly higher currently.
We are now hovering around 1.4719, the Dec 18 2008 high.
Bullish momentum, less strong than before in my opinion, remains suppressed by major resistance 1.4800.
Bears will need to contest major support at 1.4600.
Trade safe.
