The two teams could meet again this season in the final of the DFB-Pokal, when a place in the Europa League would be up for grabs.
But of the two, Freiburg currently have the better chance of qualifying for Europe via the league, which Streich says is an "extraordinary situation."
"Wolfsburg are not in the position where they want to be, but they have stabilised recently," he said at a press conference.
"It's going to be a difficult task for us. It's an extraordinary situation with a team like Wolfsburg being in the position they are in."
What may seem equally extraordinary is the fact that Freiburg can move to fourth with a win tomorrow, and that would be good enough for Champions League football next season.
Such thoughts have not yet crossed the mind of Streich, who repeatedly warned that the Wolves are capable of hitting form at any time.
"We just hope that it doesn't happen tomorrow [Saturday]," he said. "They are a bunch of fighters and good footballers rolled into one."
They need both of those attributes if they are to get away from their current 15th position and defender Simon Kjaer believes they just need to eradicate the mistakes which have crept into their game lately.
"We are doing a lot of good things, but unfortunately the things we do badly have been really bad," he said on his club's website.
"That's why we've conceded so many goals. Even I have made simple mistakes and we need to change that in the Freiburg game.
"We need to focus on ourselves and if we do our job, then we don't need to be nervous. We all have a lot of experience and we will get on top of this situation.
"We know what we need to work on in training so that we can get points in Freiburg."
Diego should be fit to line up for the Wolves, despite missing three days of training as a precaution.