There is a perfect bearish wedge in the EURUSD pair that nearing its resolution.
The danger of this sudden pop up is that the market had to close the open price gap. Failed bullish flag in the 5min chart tells that we need to watch out for another reversal to the downside.
the previous pattern worked out well. the sharp reversal tells that the market wants to go higher from here.
i'm amazed myself that it is the wolfs wave that we might see here. the price has to reverse when it reaches the green extension.