United, Liverpool and City were all winners on matchday one, with Chelsea playing out a goalless draw with Sevilla.
Liverpool and United are on British soil this week, with Chelsea and City travelling to Russia and France respectively.
And Owen is backing all but one of the sides to pick up three points.
On Tuesday, he is tipping his former club Liverpool to thrash Danish minnows Midtjylland 4-0.
‘Liverpool welcome Danish side Midtjylland to Anfield fresh from a narrow victory against Sheffield United at the weekend,’ Owen told Bet Victor.
‘The Reds are starting to find their feet after a rather shaky start to their domestic campaign.
‘They’ll certainly be targeting maximum points against the Danes here. Midtjylland were pulled apart in their opener at home to Atalanta, and if they turn up to Anfield in similar form, they could be in for a long night.’
On the same evening, Pep Guardiola’s Man City take on Marseille, with Owen predicting a narrow 2-1 win.
‘Manchester City dropped another 2 points at the weekend as they were held at West Ham,’ added Owen. ‘The Citizens have certainly not found their rhythm yet, so this poses another tough match on the road for Pep Guardiola’s side.
‘I expect another tight match here, but I do think City will have just enough to edge it.’
United stunned Paris Saint-Germain in the French capital a week ago but face another tricky tie with Red Bull Leipzig on Wednesday night.
Michael Owen’s Champions League predictions
Liverpool 4-0 Midtjylland
Krasnodar 0-2 Chelsea
Marseille 1-2 Man City
Man Utd 1-1 Leipzig
Juventus 1-1 Barcelona
And Owen expects the sides to share the spoils in a 1-1 draw at Old Trafford.
‘What a result that was in Paris last week for Manchester United,’ said Owen. ‘Ole Gunnar Solskjær executed his game plan perfectly and will be hoping for more of the same against Leipzig.
‘However, last year’s semi-finalists are no slouches and I think they’ve got enough in their locker to get something from Old Trafford, so I’m siding with the draw.’
Chelsea, meanwhile, will look to kickstart their Champions League campaign with a win – something Owen is backing them to get.
‘The Blues will be targeting 3 points in this one, and with Christian Pulisic now fit, I think the Blues should have more than enough to take the points back to Stamford Bridge.’
In the game of the week, Owen expects Juventus and Barcelona to share the spoils in Italy.