USDCHF / H1 / Daily Forex Technical Analysis / 8.20.2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is August 20th, 2019 and we will be taking a look at the United States Dollar against the Swiss Franc. Looking at the 1 hour time frame price action is currently making its way to a previous area of resistance and support at the .983 area. If Price action reaches these levels and fails to find a bullish continuation to the upside, we will be looking for an entry short with profitable conditions. Entry for a Short position near the .98442 area, with a Stop Loss near the .98739 region, and a target profit level area of .97612 to possibly ensure a profitable trade with a 2.79 to 1 R/R.