If this depreciates then it will depreciate upto 1.24275...so make sure you have a good stop setup. But you never know, it could still appreciate but with long positions, I would use limited long rather than market long.
Mr. Big Mac, I don't participate in threads where I am not welcomed. It's just wasting your time. I am only participating in this thread, just to improve my skills by exploring currencies that I maybe overlooking. I don't think there isn't many traders on ET who are on the same page with me (probably one or two out of the active members). By the way, imho adding more positions when there is no clear trend is quite risky.
Remember I am a high frequency trader?, not an investor I close my positions immediately once the momentum declines. I use the same strategy as hedge fund.