Consider opening an account with Everbank.com. Certain Everbank accounts allow you to deposit $ in dollars and transfer them into Euro. You can not withdrawal actual Euro (paper money), but your account will fluctuate with the Euro.

So, if you $1,280 USD deposit now and the exchange rate goes is $1.28 EURO to 1 USD. If the Euro goes to 1.40, your account value will go from $1,280 to $1,400. In essence, this is a hedge against increases in the Euro. There is small (.75% I think) fee for each transfer from USD to EURO and back.