2 bat patterns on EURAUD together with a current downtrend of lower highs lower lows might indicate that there is some further downside to this pair.
We might be looking at a reversal around the completion of the red bat pattern (structure present) or even a little deeper to complete the blue one ...
Are these patterns going to complete ? Nobody knows ... but I'll certainly keep an eye on it
The descent indeed is pretty choppy, but for now it sticks to the trend. To enter the trend with a SL that is acceptable might be a challenge though as the retracements are pretty spikey. For now I'm not touching this pair, just keeping an eye on eventual completion of the pattern(s).
* Update : pattern has complete now. Be careful if you want to trade it though as there is some ECB announcement tomorrow. Look for triple confirmation for entry as the overall trend of EUR is very bearish and they do want to keep it that way.