EUR/USD prepares for Super Week below 1.06

EUR/USD is getting ready for sharp losses by the end of new trading week, in case the ECB announces more stimulus on Thursday. By now all movements remain muted and follow a little volatile development of the previous week. Bears are setting eye on 1.0519 (April low) in the near term, which is reinforced by weekly S1, monthly S2 and lower Bollinger band. However, we expect the cross to pierce through 1.05 by the second half of the week. However, daily and weekly indicators preserve mixed views on the matter.  

On Monday the Euro (52%) is preferred slightly more than its US counterpart (48%). On top of that, neither bulls nor bears are controlling the majority of pending orders.