Spain will remain the favorite team when they face France, especially since their level of confidence is getting bigger after successfully getting rid of Germany. The way they played when they beat Germany was very classy, the Spanish squad this time showed something different from before. Even though the core squad contains many young, inexperienced players, their presence actually makes Spain stronger. France will have difficulty facing Spain, I think Germany's defense is stronger than France, the Spanish players will try to open the French defense area to score goals.
Spain played better than France so far and might play better in their direct match at semi final stage but at this stage and with knock out format, playing better or not is not important. The key is you need to win a match and come closer to win a competition. France with their performances so far don't care much about impression and result is what they care most.
With good defense system, France has a good foundation for their defensive prioritizing approach and can beat Spain in the semi final with an OG from Spanish player or beat Spain through penalties. Spain has Unai Simon, a good goalkeeper for penalties but to win it, they need their players shot well too. French players shown that they were well prepared for penalties and did it with high confidence.