 Good morning ladies and gentlemen and happy new year to everyone. I really wish you had a Good party to the new year and I wish you the best of luck for the new year Your dollar will be one market which should be closely watched these days. It's it's search just some some some days ago There was a flash search 1.4 cents or 140 pips upwards in just a few seconds and that shows how technically Trading is especially in those high volume markets like euro dollar The fight is not decided yet for euro dollar. The decision is not made yet Where the next big move is going to go it prog lower to a new multi-year low Prog below one point One oh four sixty that was a strong support and it broke that support to the downside which normally should have led to a Continuation of the downtrend in the direction of the euro dollar parity But as we all know obviously that didn't come so we are above one oh four sixty so Again with that flash surge. So that went relatively quickly. So a lot of traders who were short in that market were stopped out and That snapping back after breaking a support is very bullish Very bullish technical signal or might be a very bullish technical signal because everyone who was short is now in a situation of At least or in a situation where they have been stopped out Or at least think about Reasserting their their view on euro dollars So that might be a snapback and that search that came just some days ago might extend in the coming days very interesting To watch as well as the solar panels market in China Most Chinese solar panel producers are producing those panels at a loss right now That is a new technical a new market study that just came out the production The the price went down as low as 36 Cents per watt and that is bad news for silver because the actual demand for silver to produce solar panels could go down Or could continue to go down if there should be more bankruptcies in the Chinese solar panel sector The consolidation in China and the solar sector there is not finished and it already has heard the Silver demand from that sector meaningful in the past years. If you look at the relative Ratio on the relative strength between gold and silver. It's really interesting to see that over the past ten years Or at least the past seven years gold has had a Quite a run relative to silver silver has been underperforming gold gold has been outperforming silver But that has that uptrend in the outperformance of gold relative to silver has been broken with the price action We saw last year and that is actually a Signal that there might be a better world economy and economy economic development in the world economy this year and it's also a That has also been signaled by the PMI is purging purchasing manager indices in the past Months there's been a tick up worldwide. So it might be that the 2017 will bring a better economic development and that would be positive for silver Which is a very heavily used by the industrial demand has been taken up heavily by by industrial demand and There could be a silver outperformance coming relative to gold if you think that this might be something that Is going to happen? Then you can do a so-called straddle trade where you take the same amount of money and Go short Gold and with the same amount of money you go long silver if you think the opposite is true That gold will continue its outperformance relative to silver Then you go go long and short silver when you do that straddle trade. It's a non-directional trade Which means that? It's only important that the ratio goes in the right in the right direction It's no longer important where gold and silver actually are moving to If you look at the German DAX another market, which is interesting it closed at a yearly high So if you look at the yearly candle, it's really looking very positive, but there is a major High from a Dow theory perspective at 10,431 which is trading around that mark on that price tag right now The probabilities that at least there will be a consolidation around that resistance is Heightened and so just watch that we've got the honeymoon rally at Wall Street still continuing And that honeymoon rally could last as long as or it could last until Donald Trump is in Occurated into the presidency Which by itself is nothing that is negative, but if you look at the historical development Every time when a Democrat has been succeeded by a Republican or vice versa in the White House There has been this honeymoon rally and this honeymoon rally has lasted until the inaccurate in Occuration date of the new president and that is the 20th of January if I'm right So we've got some some weeks still running With a positive headwinds actually for European stocks coming from New York and coming from Wall Street so everything actually right now or not everything but at least the Equity prices in the DAX and the equity prices that went up sharply in the past weeks in the last weeks of the year 2016 are Signaling that the world economy will be more positive will be showing more positive growth in six to nine months So that is interesting to watch if that will be Affirmed by purchasing manager indices and real economic data that is going to come