The YCS and EUO represent leveraged bearish plays on the yen and euro, respectively.

FORBES: Trade Currencies Like Soros

One way to play a bearish trend in the euro with some firepower is the ProShares UltraShort Euro (EUO).

FORBES: Trade Currencies Like Soros

The ProShares Ultrashort Euro ( EUO) is a double-short leveraged ETF that tracks the dollar price of the Euro.

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However, if you think the Euro is heading down even more, take a look at ProShares UltraShort Euro ( EUO).

FORBES: Play The Euro With ETFs

Both ULE and EUO offer 2x daily leverage to their respective benchmarks.

FORBES: Play The Euro With ETFs

Playing that ride lower is possible, though speculative, with ETFs like the ProShares UltraShort Euro (EUO), which moves double in the opposite direction of the euro.

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From last May though early January EUO was up 30%.

FORBES: Trade Currencies Like Soros

In the last couple of weeks the euo has strengthened.

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Hedge funds call this pair-trading, and right now he is keeping a 10% portfolio position with one-half allocated to the UUP, the bullish dollar ETF, and one-fourth to both the EUO and the ProShares UltraShort Yen (YCS).

FORBES: Trade Currencies Like Soros