Basically, Euro is already in a strong downtrend V.S. US Dollar. QE, potential US rate rise (even though I don't believe that FED will rise the rate in the nearest time), problems in EU economy, technial picture of the chart - there are plenty of reasons why Euro will reach 1.0 against US dollar. You can play the trade both on FOREX or via ETF (for instance, FXE), or you can use PUTs. However, the trade can take some time. You can stay in the trade for some months if you want to reach the target area. You can place your stop-loss orders somewhere at 1.187