Two hinges and four boards are all you need to make an easy-to-use, easily repeatable Euro-hinge drilling jig. Simply attach a fence to a scrapwood or plywood base, draw a reference line halfway across the fence, and then attach the two hinged stops the same distance from that line. (Depending on your doors and hardware, this distance can be anywhere from 3-6".)
To use the jig, mark out your first door so that you can adjust the base to set the necessary edge clearance, and then set the bit depth. Flip down the first stop, butt one corner of the door against it, and drill your first hole. Next, flip the first stop up, and lower the second stop. Drill the cup hinge hole on the adjacent corner.