The charts here show that the FTSE and DAX are still in an uptrend, with a pattern of higher highs and higher lows starting to form.
This is still pretty choppy (look at the uptrends in the indices in January/February for a nice smooth trend), but the trend is seemingly becoming apparent. How far could it go? That is anyone's guess. But it may give you a clue in which direction to look for potential trades.