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Trend trader: Playing a euro fall to parity

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The Trend:

The decline in the euro vs. the dollar has intensified amid the announcement last week of the European Central Bank's quantitative easing, with the currency down almost 20 percent since May and more than 9 percent since mid-December, as the size and scope of the bond buying program became clear.

The diverging GDP growth outlooks between the regions coupled with a leftist victory in Greece has more and more Wall Street strategists predicting the euro will fall to parity with the dollar this year.

The Trade:

From a U.S. trading perspective, here are the ways to play the strengthening dollar of 2015.