The north London side have struggled to find consistent form in recent weeks and were dumped out of the Champions League on Wednesday night after a 3-1 loss at Barcelona.
That defeat followed their FA Cup elimination by Watford last weekend, leaving Arsenal now only playing for the Premier League title.
The Gunners are currently third in the table and 11 points behind leaders Leicester heading into this weekend’s round of fixtures, although the Gunners do have a game in hand over the Foxes.
And former Arsenal defender Keown has talked up the importance of Saturday lunchtime’s trip to Goodison Park.
Writing in his column for the Daily Mail, Keown said: “This Saturday away at Everton is now Arsenal’s cup final. They will still be aching and bruising from the Barcelona game but there was no disgrace in going there and losing. It just underlined for Wenger there is work to do.”
He added: “As for the title race, it’s always important to be able to readjust your aims. When you’re challenging for trophies and one by one they slip away, you have to readjust quickly and put all your focus into the one that’s left. They have to pull together even more for this one target.
“Arsenal still have a chance but at the end of the season they won’t want to be looking back at particular games and be thinking about ‘ifs and buts’.”
Arsenal are bidding to win the Premier League title for the first time since their famous unbeaten triumph in the 2003-04 season.
MORE: The latest football news