I think Arsenal and Bayern Munich are in the same situation right now despite the position of Arsenal in the EPL, Arsenal is fighting to stay ahead of Manchester City and Liverpool so they can win the league while they are also hoping to get ahead of Bayern Munich to be in the semi while Bayern Munich on the other hand is fighting to see if they can close the gap between them and league leaders Bayer Leverkusen which is currently ahead of them with 10 points, it may appear that all hope is lost for Bayern Munich in the league but they can't give up now until the season is over who knows if Leverkusen will lose 4 matches in the last remaining games and Bayern Munich will catch up with them so they are in similar situations with Arsenal.
They're not in no same situation, Gunner's are bottlers and even at the top of the Premier League, one would still have some levels of doubt about them possibilities of winning the Premier League Competition.
As for Bayern Munich, it'll be hell difficult for them to catch-up on Bayern Leverkusen. They're currently on another level and should not lose form even if they lose the next two games.
Rest assured it's gonna be the first trophy to be won by Xabi Alonso.
Arsenal though are still my favorites to win the Premier League Competition. I've also read how they want to sign Alexander Isaak from Newcastle United and I do think it's a great idea and better option than Victor Oshime for now