Looks like motor oil to me. If the P/S was leaking that bad it would have ran out of fluid long ago.
Perhaps the side of the head lower down has a crack? The pulley with the red arrow is the water pump.


95 Contour GL. Bought new. BAT Sway Bars/Pioneer CD/Koni Rear Struts/Mobil Fluids. Looking for 15" alloy rims-PM me. 180,500km's so far.