Arsene Wenger has revealed that he is extremely disappointed by their result against Monaco in the first leg of the round of 16 tie at the Emirates, but insists that they have the quality to end the season on a high.
The Arsenal manager bemoans that their failure to get out of the round of 16 in the last four years is what amplifies the disappointment.
The Gunners succumbed to a 3-1 defeat at home to Monaco in the midweek, a result which has all but repudiated their hopes of making it to the quarter finals. The Gunners face an uphill task of scoring three at Monaco when they visit in March, something which looks very unlikely given their performance in the home fixture.
However, Wenger who has managed to lead his team to a Champions League spot each time over the last 18 years, insists that they can still end the season on a high as they are active in the FA Cup and have played more away games in the league than any other team.
The Gunners face Everton at the Emirates on Sunday where a win would see them go back to third position, ahead of Manchester United, who won against Sunderland on Saturday.
"We have massive games in front of us and we have played two times away from home more than at home so the way we play at home is vital," the manager told Arsenal's official website.
"I want to win football games and it's a huge disappointment not to win against Monaco but that's part of it. I think the Champions League and Europa League are difficult. People underestimate teams like Besiktas.
"Only two teams have qualified 12 times for the last 16 and we played five quarter-finals, two semi-finals and one final. It's true that in the last four years we haven't progressed and that's why this result on Wednesday is so disappointing.
"The reactions today are always very emotional but life is not always on a high. You have to go through lows and highs and it is about how consistent you are in response to disappointments that makes your life," he concluded.