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The market awaits the market reaction to ECB press conference, and the U.S. initial jobless claims, hourly earnings, unemployment rate, and non-farm payroll at 08:30 EDT, after the ECB maintained the minimum bid rate at 1% as widely expected.

The intra-day trade numbers are important as the markets absorb the ECB and NFP data. These release days are not the time to be in the market looking for long-term plays; those come as a reaction to the market-wide response to these releases over the next few sessions.

Historically these are volatile trading sessions, and as such great care and planning needs to be done to get the most from anything taken, and to come out of it with a shirt on our back. Expectaction and reality merge into one in most traders minds, and ranging 2000 pip runs are dreamt of.

However, those ranging, trending, moves all start with a period of volatility, contraction, tests of bids and asks, and suddenly a price is found that either buyers or sellers have given up on; and then the big break happens. If at all, that will likely be later in the session, and not at the get-go at 08:30 EDT, there is just too much to absorb,

Too many traders want to take too much from these days, for many reasons, but the reality is that small bites add up to a big chunk over time. Be patient, plan it out, know what numbers you want to hit, and accept that things can, and most likely will, spin on a dime. The ECB Pres Conference: live streaming link

There has already been more price movement from the majors overnight than we have seen historically ahead of these releases; the norm is to track sideways and then start to move about now.

The unique thing today is having the NFP moved up a day because of the 4th July U.S. Holiday, and hitting at the moment that the ECB press conference takes place.

Bear in mind that U.S. trade desks will be wrapping up early today, and that the bond markets will be all but finished in the U.S. by 11:00 EDT. We are here, we are ready, and we will update as things move. Remember, the goal is to come out of it with a shirt on our back, so move away from the mouse, wait for candles to close, plan the numbers (or use ours), and stay in control.

The impact of today will be with us for weeks, there is no rush to jump in.

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A forex day trading system is a must have for anyone who feels like they are ready to take the next step into forex trading. The right forex day trading system can help you make better trades. This article will give you some suggestions on what to look for in a foreign exchange day trading system.

A forex day trading system should come with some sort of training. When you learn anything for the first time you need some guidance. Even if you have been studying the forex market for some time, you need some guidance when you are starting a system for the first time. There should be an extensive manual included in the system that you've purchased. It would also be nice if your system came with some sort of a demo of how the system works so you can practice with pretend money before you use your real money.

Your forex day trading system should have some sort of human support system in place if you have questions or need help. Since you are starting this system as a total newbie, you may have some questions at some point during your trading career. The system you purchase should come with some sort or support desk. It's okay if they have standard office hours. I don't expect anyone to be accessible 24 hours a day. The main thing is that you need to be able to call or email someone when you have questions.

Forex trading can be an exciting way to make money from home. As with any business, you'll be more successful if you have a system in place. Look around the Internet for systems that you can use. Don't buy the first one you see. Look at a lot of different systems before you make a decision.

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LONDON (Dow Jones)--A small rise in risk aversion has helped the dollar and hit the euro in Europe Thursday as the market waits for the latest U.S. payrolls data.

A meeting by the European Central Bank that finishes at 1145 GMT is expected to leave rates unchanged and have little impact on sentiment.

Meanwhile, the Swedish central bank announced an unexpected 0.25-basis-point cut in its interest rates that hurt the krona and the Swiss franc was kicked a little lower by verbal intervention from the Swiss National Bank.

One of the key developments in Europe was a report from Fitch Ratings that Russian banks may need as much as $60 billion of fresh capital to help them deal with bad loans. Given the exposure euro-zone banks have to Russia, the news immediately undermined support for the euro.

However, risk aversion was already on the rise after Australia reported that its trade gap was much larger than the market anticipated. This all contributed to fears that global economic data - including the payrolls figures later Thursday - will indicate a more extended recession.

The fact that the Riksbank decided to cut its rate against market expectations certainly proves the point that officials remain wary that the downturn is over.

All this uncertainty was reflected in the weak performance of equity markets, with the Nikkei losing 0.6% and then European bourses falling as much as 1.5% at the start.

Despite the dollar's advance, the U.S. currency did face one major drag - the latest calls by China for G8 leaders meeting in Italy next week to discuss alternative reserve currencies.

See chart at

http://www.dowjoneswebservices.com/chart/view/2351

China, along with Brazil, India and Russia, has been pushing for other currency units - including the IMF's special drawing rights - to be used instead of the dollar.

By 0930 GMT, the dollar had risen to Y96.69 from Y96.44 late on Wednesday in New York, according to EBS.

The euro was down at $1.4097 from $1.4171 and at Y136.36 from Y136.71.

The dollar was also up at CHF1.0809 from $1.0730, helped in part by verbal intervention from SNB board member Thomas Jordan. He said the bank would continue to buy foreign currencies against the franc on "an ad hoc basis to achieve a large impact."

The SNB last intervened, buying the dollar as well as the euro, last week. Since then, however, the franc has continue to edge higher again.

Elsewhere, the pound is down at $1.6348 from $1.6484 as the U.S. currency waits for the release of payrolls. These are expected to show a fall of 350,000 last month after declining by 345,000 in May.

In Eastern Europe, currencies were mixed. The euro rose a little to HUF269.40 from HUF269.30 and to PLN4.3797 from PLN4.3508. But the single currency fell to CZK25.699 from CZK25.756.

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Forex Strategy Secrets just released their new course. Nth Degree. It is a course designed to take forex traders to the next level, substantially increasing their profits. The course was released the end of March and customers are loving it

(PRWEB) July 2, 2009 -- Nth degree is Forex Strategy Secret's new forex trading course. It focuses on taking forex traders from living in a trade to trade mentality to making forex trading a substantial source of income. Nth degree was designed by a father and a son team, Kirk and Jed Norwood. Kirk started his trading career in stocks, options and commodities but ultimately fell into forex finding that he loved the control forex offered. From there Kirk introduced his son Jed to the forex strategies he was learning and Jed found out that forex was really something that ignited his passion.

They went on to develop, critique and now publish the forex strategies that made them forex mentors for other traders. Forex Strategy Secrets was formed to push their successful strategies beyond their circle of friends and into and international world. It was a rough start, just like any business. They struggled to gain the trust of the forex traders of the world, they were two traders from Utah claiming to know the ins and outs of forex. Their business model is learning first, profits second. Walter Trinkala of Virginia put it this way describing the Norwood's teaching style "Like the old adage...'give someone a fish they eat for a day. Teach someone to fish they eat for a life time'. I hope to meet you and Jed some day to personally thank you."

The recent release of their newest product, the Nth Degree, has been a milestone in their business career. The created the Nth Degree to teach average traders how to maximize their earnings and become above average traders with real profits. Their simple teaching method is what sets them apart from the competition. While other strategies are teaching formulas, complex charts and signals the Forex Strategy's forex tutorial (which consists of Jump Start - their free course, Launch Pad, and Nth Degree) is teaching traders how to earn pips.

Kirk and Jed's success is summed up in this one testimonial of their new forex trading education product:

"Before I had found Forex Strategy Secrets, my trading was inconsistent, and unsuccessful. After working with launch pad and the Nth degree, I was making a large number of trades that were in excess of 100 pips, and some trades over 200 pips. One day, between multiple trades, I made an excess of over 700 pips! Forex Strategy Secrets was the best investment I have ever made regarding currency trading." Thank you, - Josh A. Provo, Utah.

Currency forex learn online trading was something that up until recently was limited to large banks and financial institutions. Now it is possible for anyone who has access to the Internet to learn how to trade currency online. It is very easy to learn how to trade in the forex market online. A lot of brokers have demo accounts to help you learn how to trade in the forex markets. Here are some pointers to help you get started.

Learn the vocabulary: Before you begin forex trading, it is important for you to learn the lingo. Just like anything else, forex traders have their own special vocabulary. If you try to trade in the forex market without learning the vocabulary, it will be like visiting a foreign country without learning the language first. You will be extremely confused. Take some time to learn the vocabulary related to forex trading before you start. The forex market is not going to disappear anytime soon. Take all the time necessary to get familiar with the terminology you will need to become successful as a forex trader.

Practice before you start using real money: I know this seems like common sense, but you should really practice your strategy with pretend money before you start using your own money. The reason I say this is because it can take a while for you to learn what is going on with forex and currency trading. While you are learning this information, it is a lot better to practice with pretend money. It is pretty hard to be a forex trader if you're homeless! You can fool around and lose your money if you don't know what you are doing when it comes to forex trading. Go online and find some places that will allow you to practice forex trading for free. Do that until you feel like you have the hang of it before you start trading for real.

Forex trading can be a lucrative way to earn money from home. It can also be very risky if you don't know what you're doing. Follow the advice in this article and you will be well on your way to success in forex trading.

Forex trading software has become more sophisticated with the introduction of forex trading robots. Experienced and novice traders want to test drive this automated way of trading and gauge how it measures up in the forex market.

Most of these programs have convincing presentations and impressive performance records, but be wary about building your trust too much about any particular forex trading software. Most of them offer tested data which are pretty much remarkable, but in most cases these robots have not traded with hard currencies. It doesn't mean that these forex trading software systems are fraudulent, created just to swindle you. A number of these robots have track records of profitability for several years and have been tested during actual trading. The only way to find out which one of these particular trading robots can work to your advantage is to acquire the software and try it out.

There are hundreds of forex trading robots available on the market. Some of them promise a refund if you find their system to be such a waste of time, while others can do the job. You can try out different systems that work best for your trading style. There are programs geared towards beginners, experienced and long term traders. The option of which programs to use is up to you.

Be on guard to the ones that claim they're the most profitable and convince you that you'll become rich quicker, these are the ones that you should avoid. The tested automated forex robots will make profits for you, not in a quick manner but a steady movement, thus, increasing your profit slowly but surely. A lot of money can be made dealing in forex trading but will not make you rich overnight.

Look for those forex trading programs that make more winning calls based on past performance and adopt an autopilot feature to stop automatically to minimize any losses when the market is unsteady. Such systems are good candidates for making profits, in the long run.

The most essential method is to consider carefully about your investment objectives and employ proven trading strategies. This is where the forex trading robots become useful. Since robots respond to the program and commands of its owner, your forex trading robots will automate the trading for you, using the tried and tested trading strategies which you can input in its memory.

Automated forex robots and trading systems are used by both beginner and experienced forex traders for more profitable trading in the forex market.

Visit Forex Trading for more info on foreign exchange currency market trading.

A lot of people go into forex day trading thinking that it is profitable. Unfortunately, day trading profitability simply does not exist. It does not make you money at all.

Yet, millions of traders are falling into this trap, moved by different reasons, influenced by a variety of emotions. Trillions of dollars are being traded everyday by these people who believe they can get something out of day trading.

What traders usually do is bend their system in order to fit the data into that system -- a process termed as curve-fitting. Then again, you have to know that once traded, this data may actually change its form and this can translate to greater losses for you.

One other thing you should know is that forex brokers may take advantage of ones lack of technical know-how in forex trading and the greed that often leaves one desiring for more money. Capitalizing on these, they advertise the alleged benefits of day trading using made-up track records.

Here are some truths about forex day trading:

• Forex trading is risky business. In order to win, you must have all the odds work to your advantage.
• Day traders usually no longer let their profits earn more money for them because the moment they earn, they readily take their profit to themselves.

You can never win with forex day trading. Don't be misled into believing that you can because the truth is, you simply can not. If you really want to earn, try your hand at forex swing trading instead.