Carbonfiberboy 

Nicely done. Good position, good back. That Canyon has a short head tube for an XS. You could get lower if you wanted to by messing with stem angle and spacers. Depends on where your power is best w/r to hip angle.

You want a 90° angle between your upper arm and torso. With this fit, that angle is too small. Notice that no matter how low you are, this angle remains about the same, which seems kinda weird, but that's how it works.

Experiment by taking more of these photos while moving your hands forward, easiest in the low position while resting your forearms on the bars. See how many cm you'll need to add to your reach to get that 90° angle. You could put some of them into the stem or get full size bars instead of the compacts, which would also move your hands forward on the hoods and drops.

You could also get more reach by moving your saddle back. With pedals horizontal, drop a plumb bob from the bony protrusion right below your knee cap. Hitting the center of the pedal axle is a good starting point. Or do a test for balance on the road. You should be able to briefly lift your hands off the bars without sliding forward on the saddle. Move saddle back to decrease weight on hands.

Some people take a while to get used to having proper reach. I'm on the other side, where I feel more comfortable having more reach. I dialed it back recently after noticing that I was up to 120°. I shortened my stem and went to compact bars. You need to do the opposite. I'm already used to the shorter reach.