Another good way to short the Euro is to by put options on FXE, the Euro trust ETF. This option might be preferred because you will need to tie up less cash. I have 6 month, 1 year, and 2 year options. Prices are optimal today as we experience another period of irrational euphoria that the Euro economy will be artifically propped up a little but longer! This strategy requires focus and a strong stomach.
Disclosure: I am short FXE.