The Gunners are being linked with a move for a forward on transfer deadline day after Olivier Giroud was sidelined for three to four months with a broken foot.
Monaco striker Radamel Falcao was a reported target for the north London side, however, Manchester United appear to have won the race to sign the Colombia international.
But former Arsenal midfielder Parlour feels Arsene Wenger should still delve into the transfer market and add another finisher to his squad before the 23.00 BST deadline on Monday.
“If I was calling the shots I’d love to bring a striker to Arsenal. Someone like Cavani if he was available and if not I would have looked at Bony, Remy or Hernande,” Parlour posted on Sportslobster.
Parlour added: “If I was manager right now I’d sign Cavani, I reckon if he put the money down he could get him. Holding I’d get Carvalho and defensively there’s not a huge amount of players around.
“I’d take a gamble and go for Winston Reid.”
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