$108K BTC Price Next? Bitcoin Reaches Bull Market 'Pivot Point'

Above: Germany's DAX prints a series of fresh records.

Source: Poundsterlinglive

Source: Euronews

Malaysia’s international reserves had risen by US$1.3 billion as at Feb 14 from two weeks earlier, according to Bank Negara Malaysia.

International reserves totalled US$117.7 billion, versus US$116.4 billion as at end-January, the central bank said in a statement on Friday.

The position is sufficient to finance five months of imports of goods and services, and is equivalent to 0.9 times the country’s total short-term external debt, it said. 

Short-term external debt comprises borrowings from non-residents with maturity of one year or less, mostly by resident banks for their foreign currency liquidity operations, as well as multinational corporations, including foreign banks, borrowings from their overseas parents or headquarters.

Among key reserve components, foreign currency reserves increased to US$105.2 billion from US$103.8 billion as at end-January, while the country’s position at the International Monetary Fund (IMF) was steady at US$1.2 billion

Special drawing rights (SDR) — reserve assets allocated by the IMF based on a basket of major currencies — were unchanged at US$5.7 billion, as did the central bank’s gold holdings, which were unchanged at US$3.3 billion.

Other reserve assets saw a slight slip to US$2.3 billion from US$2.4 billion.

Source: Theedgemarkets

Impulsive advance has room to extend to 1.0530; a clear break above this level appears unlikely. In the longer run, rejuvenated upward momentum suggests Euro (EUR) could continue to advance vs US Dollar (USD); the levels to monitor are 1.0530 and 1.0560, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

EUR can continue to advance 1.0530 and 1.0560

24-HOUR VIEW: "Two days ago, EUR fell to a low of 1.0400. Yesterday, when EUR was at 1.0425, we indicated that 'despite the decline, there has been no significant increase in downward momentum,' and we held the view that it 'is likely to trade in a 1.0395/1.0455 range.' Instead of trading in a range, EUR jumped and closed higher by 0.76% (1.0500). While deeply overbought, the impulsive advance has room to extend to 1.0530. Given the overbought conditions, a clear break above this level appears unlikely. To sustain the momentum, EUR must not break below 1.0455 (minor support is at 1.0475)."

1-3 WEEKS VIEW: "We revised our view from positive to neutral yesterday (20 Feb, spot at 1.0425), indicating that EUR 'appears to have moved into a range trading phase, and it is likely to trade between 1.0350 and 1.0500 for the time being.' We did not expect the subsequent strong surge that reached a high of 1.0503. Upward momentum has been rejuvenated, suggesting EUR could continue to advance. That said, there are a pair of major resistance levels at 1.0530 and 1.0560. Overall, only a breach of 1.0425 would invalidate our view."

Source: FXSTREET