Arsenal will take on Olympiakos away from home in Greece in the Champions League Group F.
The Gunners are not guaranteed of a place in the knockout stages of Europe’s premier club competition and have to be on top of their game.
Former Newcastle United man Owen is hopeful of an Arsenal win and has backed France international striker Giroud to score for the North London outfit.
“Arsenal will qualify for the knock out stages with any win in Greece other than by 1-0 or 2-1 but the Gunners have lost all three previous CL away games against Olympiakos all of which have been on Matchday six,” the former England international has written on Betvictor.com.
“Alexis Sanchez would be a huge loss for Arsenal if he misses the game, but they are sure to give it a good go and the Greeks won’t know whether to attack or try and sit on their advantage.
"Olivier Giroud found the back of both nets against Sunderland on Saturday; let’s hope he’s on target just at the right end midweek.”
A footnote added: “Michael’s recommendation: Olivier Giroud to score at anytime at 7/5.”
Arsenal will head into the game against Olympiakos on the back of a 3- 1 victory over Sunderland at the Emirates Stadium in the Premier League.
Arsene Wenger’s side will be favourites to win, but the players need to be on top of their game right from the first minute.
The Gunners cannot afford to concede the first goal, as that will make their task of winning very difficult.