4-hour timeframe

Overview:
Unexpectedly the formed sales signal weakened and canceled, a new signal with target at 1.2975 set instead. The ‘buy’ signal is strong and confirmed, which is indicated by the price placement against Ishimoku and Chinkou Span position above the price curve. The price increased to the first resistance level of 1.2748, therefore, the further movement depends on that is the price able to fixate above this level. If yes, the next target will be the second resistance level of 1.2855. Otherwise, correction is possible. If the price fixes below Kijun-sen, it will mean the current signal weakening. Bollinger bands testify to upward motion. The bands are diverging and up-directed. MACD is rising also signaling about current ascendant movement.
Trading recommendations:
In the current situation, it is recommended to wait for the price fixation above the first resistance level. After that, it will be allowed to open long positions with target at 1.2855. Stop loss to set below 1.2650.
Besides the technical picture, the fundamental reports and time of their release should be taken into account also.
The chart annotation:
Ishimoku indicator:
Tenkan-sen — red line
Kijun-sen — blue line
Senkou Span A — light brown stipple line
Senkou Span B — light purple stipple line
Chinkou Span — green line
Bollinger Bands indicator:
3 yellow lines
MACD indicator:
The red line and the histogram with the white bars in the indicators window.