Time for a rest?

Well after the big run up last week, looks like markets want a rest.

Looking at FTSE 4 hr chart, after the break out from that channel, we COULD go as low to retest that channel, but I would say doubtful .

More likely we see some weakness maybe as low as 5400, before the rally gets going again..

CAVEAT: Obviously if we get some "news" out of Europe by end of the week it may accentuate the moves.

EURO has also given back most of it's gains, AUDUSD also weak today after RBA rate cut...

FTSE 4 hr

DAX


similar picture to FTSE, looking to buy on weakness..ideally below 6000

DAX 4 hour