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By wednesday at the Bernabeau in this second leg we will get to know how solid the Arsenal defence is and how tactical Mikel Arteta can be in waving off all Ancelotti's tactics and techniques to getting a win that can qualify his Real Madrid side. With the Madrid players knowing fully well that this is their last chance of either qualifying to next round or get eliminated am expecting they will come all out for Arsenal but while they do that, Arsenal can try to take advantage of Madrid's weak defense for a counterattack to increase their aggregate. Perhaps Madrid might win but may not still qualify base on winning margin.
Real Madrid are favourites to win the home leg, but they are no longer favourites to progress to the semi-finals if they fail to score a few goals without conceding in the first half. Arsenal will certainly not play defensively in the second leg, if Arteta does so then Arsenal are clearly at great risk of conceding a lot of goals. Arsenal have a high chance of progressing to the semi-finals after they managed to create a 3-0 aggregate in the first leg, that is an advantage that will really help them in the second leg later.
For Tuesday's games, we have 2 good games as well. PSG and Barcelona are both favorites to advance to the next round, they already have a pretty promising aggregate lead. Barcelona and PSG will be away to their opponents, but they are safe to expect to advance to the semi-finals this season. PSG may not be completely safe yet, but Barcelona is safe in my opinion.