The red shows that there's much selling pressure in the market. The Stop-Loss is set a few pips above that level, but relatively high above it, because we saw high lately.
There is also a certain probability of a long breakout and the triangle could also be seen as a symmetrical triangle. No real clarity about that.
I don't believe in a strong euro in general, espicially after the decision of keeping Greece in the euro zone. This ist I think that there's a higher likelihood of a decreasing euro in general