City have twice beaten the Gunners 3-0 this season, the most recent of which came last month.
But the north London outfit overcame an early goal to see off Liverpool at the Emirates to enhance their chances of qualifying for the Europa League.
And Soares, who joined on loan in the summer, is confident that they can challenge Pep Guardiola's side.
He said: “Teams have moments and when you keep growing something the wins always give you a push.
“You have to believe in the work of the coaching staff every day and, of course, when you win you can believe more and it helps the team in that moment.
“We know it will be another tough game against a great opponent on the weekend, but we are in a good moment.
“I just think we need to keep this spirit and the rest will come. If we keep working like this, it is just the natural way for a win to come."