Fundamentally it probably make no sense to buy Euro but looking at divergence in ROC & price it looks like euro will move up from here the move can be very short term or long term i have no clue about it, but if we look in the past history data it gave really good calls.
Since Nov 30 dollar index has moved up where as it's 25 day ROC went down. Looking at the chart it seems serious divergence & $ can correct from here against basket of other currencies.
I prefer going long on Euro particular from here.
Barron magazine recently published an article stating Dow @20000 & beyond, that is first warning sign that Top is near. Also notice momentum is fading (ROC) did not respond by making new high while Dow made new high.
So going short looks very attractive here.
Nifty has collapsed to 8100 but Tech Mahindra is where it is it didn't went down further. There is double bottom formation on weekly chart, USDINR is also likely to be volatile with upward bias. so buying IT looks good here