The EUR/USD is having its strongest rally in 8 years on the weekly charts. On the daily chart, the rally is extreme. There was a parabolic wedge last week, but this week, the price broke above the wedge.
However, the bear bar on Tuesday might be a 1 day Final Bull Flag. There is also a potential higher high double top with the September 2018 high. Also, this is the 3rd leg up from the March low so there is a big wedge bull channel.
Because the rally is extreme and climactic, the bulls should take profits soon for a couple weeks. That should result in a couple legs small sideways to down for about 200 pips to near the EMA. The minor reversal down might even test the March high.
It is important to note that traders now see the daily and weekly charts as in bull trends. They will buy the pullback. The selloff should become a bull flag and not a bear trend.
EUR/USD Daily Technicals