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Indices Europe

CAC 40 At Crucial Support CAC40 opened With massive Gapdown trapping all the bulls at higher level This must have forced the small leveraged Trader to exit Their Position at the lower rates forcing the index downwards. Index can Face Heavy Selling Pressure from tops All the trapped brave Traders who didn't exit their position in today's fall will be waiting for their prices on the higher side. So Sell on rise pattern could be seen in this index CAC40 Is currently trading Below its 100 EMA at crucial Support Level of previous swing low. Fresh Sell Off Can be Seen Below The swing low till 5720 Levels which is 200 EMA and 4th Decembers Low.
TVC:CAC40
by TradingOx
1
US could impose 100% tariffs on French goods after Google taxWhat was President Macron thinking about designing a tax for tech companies... A quick reminder, it will be separated in two categories — marketplace (Amazon’s marketplace, Uber, Airbnb…) and advertising (Facebook, Google, Criteo…). Despite the fact it wasnt planned specifically for American companies, the vast majority of big tech companies that operate in France are American. Thus, a company that generates more than €750 million in global revenue and €25 million in France, will have to pay 3% of the French revenue in taxes. As expected, the U.S. Trade Representative claimed that“France’s Digital Services Tax (DST) discriminates against U.S. companies, is inconsistent with prevailing principles of international tax policy, and is unusually burdensome for affected U.S. companies.” And, as a result, now we might see tariffs that could be as high as 100% on French goods (wine, cheese, handbags…). What is going to happen now? Frnce will say that the response will be equally damaging, but i personally doubt they manage to impose significant tariffs unless the whole European Union agrees to cooperate and istart acting. However, even in this case no one can guarantee that th EU will achieve something worthwhile... So, with a high probability we will see another decrease in the Cac-40.
NASDAQ:CACShort
by Market_Referee