After the club were charged with Profitability and Sustainability breaches by the Premier League earlier this month, Forest are likely to only enter the loan market this month, in fear of breaching the rules again after heavy spending in the summer.
With Morgan Gibbs-White and Anthony Elanga recently joining Taiwo Awoniyi on the treatment table, manager Nuno Espirito Santo will be keen to add attacking reinforcements, with his side hovering ominously above the relegation zone.
Firstly, David Ornstein claims that Forest are in talks with Borussia Dortmund over a move for USA international Reyna.
Forest are hoping to secure a deal which would be an initial loan with an option to buy in the summer, when the club will enter a new year of accounting.
Reyna has not started a league game for Dortmund since being taken off at half-time in their 3-3 draw at Eintracht Frankfurt in October.
The arrival of Jadon Sancho and the emergence of Jamie Bynoe-Gittens has knocked Reyna down the pecking order under Edin Terzic, as he has played just 20 minutes since the resumption of action after the winter break in Germany.
A deal is not believed to be close yet, as there are many facets still to be sorted, but Ornstein states that Forest are pushing hard to get a deal done before next week's deadline.
Furthermore, Fabrizio Romano claims that the club are looking to bring another attacking option in on loan in the coming week, with talks over a move for Carlos Borges from Ajax ongoing.
Borges was a big-money move for Ajax over the summer, joining after impressing for Manchester City's Under-21s, scoring 30 goals in all competitions at youth level last season.
Since his €14m signing in August though, Borges has not been able to continue his fine scoring form in the Eredivisie.
The 19-year-old has scored only one league goal with the Dutch side, as well as one in Europe, during their 3-3 draw with Marseille back in September.
Borges has since lost his place in the side, with Kristian Hlynsson now preferred by new manager John van't Schip in an attacking role.
Romano states that talks are now at an advanced stage, with the club keen to bring both Borges and Reyna in this month.
Forest are likely to be thin on options when they travel to Ashton Gate to face Bristol City in the FA Cup on Friday, with none of their absentees set to return in time for the tie.