A closer look into the FXE, a must BUY! ETF option analysis

I love these moments in the market. I'm excited about this one! A sudden drop or spike in price always means opportunities in my book. Especially when it comes to trades I'm following and familiar with. In this case I'm talking about the Euro. The sudden drop in price to the 1.42 levels in the past few days had me keeping my eyes open for entry trading opportunities. And I think one came along.
For currency traders it's the EUR/USD, to gain a few pips here, I definitely recommend a BUY position here with a target of 1.44.
For my own portfolio, I'm going with the ETF EURO Currency Shares Euro Trust, a.k.a FXE.

In my case I chose the FXE1121E141, the 21st of May 11 Call Option on this one. Based on the fact the Euro almost rallied to 1.50, and suddenly pulled back almost 8 cents and now is rising in value again indicates, the markets are correcting and upwards pressure is continuing to built up. Regardless whether or not the oversold RSI is not yet in its recommended territory (at least not on this chart) I'm jumping in early, purely based on historical analysis on this pair, I've been following the EURO trade for years and it's not the first time I've seen such a drop or spike in price moment, sometimes completely unrelated to technical indicators, but mainly fundamentals that toss around price movement.

Follow up post to come,...

BTW, Silver trade (SLV) turned out beautifully... :)