As you may see in the chart CHFEUR is forming a rounding top. This pattern's statistic shows a high reliability concerning its expected breakout.
Possible entries for a short and a following long trade may be taken from the chart.
Be advised that the price may already bounce from the projected short entry and rise into the pattern's breakout.
This is actually just for my own record and not meant as definitive financial advice.
If you're interested in the theory/calculus behind pattern trading just ask in the comment section.
If the bullish engulfing persists till the candles close, this variant becomes much more likely.