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Opportunity knocks for north London rivals Arsenal and Tottenham over the closing days of the transfer window.

The two teams clash again on March 3, but the bragging rights could effectively be secured this week.

Everton have shown their hand in the race for fourth place with the signing of Leroy Fer and it now remains to be seen whether Arsenal or Spurs will make a statement of intent.

Their needs are remarkably similar. Both sets of fans are desperate to see a new striker arrive, while a dynamic central midfielder should be high on the agendas of both clubs.

Currently occupying sixth place and four points behind Spurs, it would initially seem Arsenal's need is greater.

But scratch beneath the surface and Arsenal manager Arsene Wenger has reason for optimism that his team can again overhaul their neighbours if the two clubs fail to do any significant business.

Olivier Giroud took his tally to 13 goals and nine assists in the FA Cup victory over Brighton and is starting to look the part.

The obvious criticism of summer signing Giroud is that he has netted just one of those goals against the so-called big clubs – Tottenham.

(Image: Getty)

He missed a great chance against Chelsea, just seconds before the Blues went up the other end and opened the scoring in their 2-1 victory.

But if Giroud is something of a flat-track bully while he acclimatises to English football, then Arsenal can take encouragement from the fact that 12 of their remaining 15 Premier League games are against teams below them.

Theo Walcott has now signed his new contract and his impressive form shows no sign of slowing down, while the performances of Lukas Podolski have moved up a level in recent weeks.

The addition of a top-class striker would no doubt give Arsenal a huge boost and provide some insurance against injuries, but Tottenham's need in the goalscoring department is undoubtedly greater.

Between them, Walcott, Giroud and Podolski have netted 25 Premier League goals this season. For Tottenham, Jermain Defoe, Emmanuel Adebayor and Gareth Bale have scored 21.

Defoe's last goal came on Boxing Day and it has now emerged he has been nursing a pelvic injury that may yet require surgery.

With their current choice of forwards, Tottenham need a fully fit and firing Defoe – particularly with Adebayor away taking part in the African Cup of Nations.

(Image: Michael Regan)

Adebayor has struggled to reproduce his performances of last season for Spurs and players often find it difficult to return from a tiring African Cup of Nations schedule and hit the ground running.

Clint Dempsey and Gylfi Sigurdsson were both signed to boost Tottenham's goal threat, but neither man has properly hit his stride at White Hart Lane.

Manager Andre Villas-Boas did a wonderful job of putting on a brave face after chairman Daniel Levy failed to sign any of his summer targets and the Portuguese has claimed he is “relaxed” about the current situation.

But having put Tottenham in place to fight for a Champions League place, Villas-Boas now deserves some real backing from Levy.

Successive games against Arsenal and Liverpool will test the options of Villas-Boas, but the real strain will come in a three-game spell in April when Spurs face Everton, Chelsea and Manchester City.

The acceleration of Lewis Holtby's signing is no doubt welcome and allows Levy to boast that he has picked up the German Under-21 captain for just £1.5million.

(Image: Getty)

But not spending proper money on a striker or a ready-made replacement for the injured Sandro would once again be a false economy and could cost Spurs dear.

While Arsenal have Abou Diaby tentatively returning to fitness in midfield , Mikel Arteta recovering and Aaron Ramsey regaining his confidence, Tottenham could be without Sandro for the remainder of the season, Scott Parker is horribly short of match practice and Tom Huddlestone has not developed as the club once hoped.

Holtby will prove to be a good signing for Spurs, but he is not the man to step into Sandro's boots. Villas-Boas would dearly love to land his long-term target Joao Moutinho, but Levy is up to his old tricks by refusing to match the £24million fee that was agreed for the midfielder in August.

If Gareth Bale suffers injury or loss of form, then one suspects the game will be up for Tottenham.

It is time for Levy and Wenger to stick or twist. If they both stick, the Frenchman will quietly fancy his hand.