EUR- USD 1.3000 on Mario Draghi statement october 4 2012

forex trading outlook today -  EUR- USD will like to 1.3000 on Mario Draghi statement october 4 2012 : The euro hit 1.2993 soon after the ECB statement, retracing ground to the 1.2970/80 region as of writing on President M.Draghi's presser.

Draghi has pointed to inflation levels above 2.0% throughout 2012, after implying that current levels would be transitory however balanced in the medium term. Regarding the economic activity, the outlook for the euro zone remains worrisome, as risks for economic growth are still skewed to the downside. M.Draghi has also remarked the need for a confirmation of the fiscal compact and asserted that an interest rate cut was not discussed today.

The cross is now up 0.56% at 1.2978 with the next resistance at 1.3032 (61.8% of 1.3173-1.2804) and then 1.3059 (high Sep.20).
On the flip side, a penetration of 1.2878 (low Oct.4) would expose 1.2821 (MA200d) and then 1.2809 (MA30d).

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