Elliott Wave Analysis: CADCHF Update

Good morning traders!
Today we are looking at the CADCHF. On the daily chart of CADCHF we are observing a nice higher degree three wave move to the upside in action, with price specifically trading in minor wave two as part of blue wave C.

On the 4h chart we believe market is trading in a three wave correction within two corrective channel lines, with waves a and b already completed, and now red wave c in motion towards the 0.7800 level. If we are on the right track and more upside will follow, then the following sub-wave two may offer some support for bulls.