According to some traders from London, current spike on the EURUSD is caused mainly by the correlation between European Stocks and the pair.
Investors willing to bet on EUR/USD should focus on performance of European equities
Positioning and order books light due to latest rally in EUR wiping out large part of USD longs
Bids seen at 1.1090/95 and 1.1040, offers at 1.1180 and 1.1200/20
Meanwhile the pair approaches 1,1165.