Oil moved away from USD50 amid China slowdown and the strong dollar, despite the market expects rates to remain stable after the weak jobs data, Brexit has led to the purchase of risk free assets and strength in the US currency.
Oil started the week USD48,31 which increases the likelihood of gains in the dollar, while the dollar remains over 2,940 is likely to climb to 3,040 and 3,050, the breakdown of the 2940 mean the continuation of the downtrend and fall to 2,870.
Wednesday's rate decision from the Fed force the breakup of the 3,050 as long as interest rates rises or comments that trigger international risk, otherwise vendors might appear between 3000 and 3050.
For now, wait a technical rebound until 3040 and shall evaluate the information to determine the profit taking or a 3.120 dollar. It should set a stop loss below 2,940.