Last month, Barcelona signed Traore on a loan deal until the end of the season with the option of signing the Spain international on a permanent basis for approximately £29m.
However, with Barcelona having allowed Trincao to spend the campaign at Molineux in similar circumstances, there is now scope for a straight swap to take place between the two clubs.
According to Sport, both Wolves and Trincao are happy to extend their partnership past the end of this season.
The report claims that the teams are now likely to swap the two wingers without any money changing hands once the transfer window opens in the summer.
Trincao, who is four years younger than Traore at 22, has made 12 starts and five substitute outings in the Premier League. body check tags ::