I think Bayern München - Real Madrid winner will win the Champions League cup. Also Arsenal - Atletico Madrid winner will win the Europa League cup. They are favorites for a reason but I don't know how did they see each other in semi finals. I thought they would play in Final. I guess UEFA didn't fix games this time.
Yes, Ideally the final party is:
Bayern Munich VS Real Madrid (UCL)
Arsenal VS Atletico Madrid (Europe League)
But in fact they met in the semi-finals. If in my country this is called as the early-final. But football does not talk about strength, unseeded teams in the finals will win games, nothing is impossible in the world of football. Bayern Munich is a strong team, as well as with Real Madrid who has a qualified player. So this game will run fiercely, but if seen the previous meeting between Real Madrid and Munich, Real Madrid is the team more in the favor than Bayern Munich.