The Hornets are set to sign Ecuador international Juan Carlos Paredes and are considering a move for Udinese striker Odion Ighalo, the Watford Observer understands.
Parades is a pacey wing back who played most of his country’s World Cup warm-up with England on Wednesday night at right-back in a 4-4-2.
The 26-year-old, who is 27 next month, plays for Ecuadorian side Barcelona Sporting Club and he has spent the whole of his career in his native country, also featuring for Rocafuerte, Deportivo Cuenca and Deportivo Quito, where he won the league title in 2011.
Udinese, who like Watford are owned by the Pozzos, have been keen on signing the player for more than six months and he has reportedly attracted interest from clubs around Europe.
Watford have already completed the signings of three players on free transfers this summer; Tottenham goalkeeper Heurelho Gomes, former West Bromwich Albion centre back Gabriel Tamas and Leicester City wing back Lloyd Dyer.
The Hornets are keen to sign players with experience of English football, like the trio already signed, and are targeting several other English and Irish players.
Last week we reported on the club’s interest in Sunderland striker Danny Graham and Stevenage winger Luke Freeman and we understand Derby County midfielder Jeff Hendrick is also wanted by the Golden Boys.
Watford are keen to achieve the right blend of British and Irish players and foreign imports.
The Hornets remain confident they can secure the services of former loanees Daniel Tozser and Matej Vydra.
Watford remain in advanced talks with Tozser but they have looked at other defensive midfielders, with one of those being Alexander Mejia, who is in Colombia’s World Cup squad.
One of the other players Watford are considering is Udinese striker Ighalo, who has spent most of the last five seasons on loan at sister club Granada.
He is a powerful striker who does not possess an impressive strike rate but is a fans’ favourite at Granada, helping the club secure back-to-back promotions to La Liga and remain in the Spanish top flight for three seasons.
The striker, who is 25 in ten days time, started his career at Prime and then Julius Berger in his native Nigeria before joining Lyn in Norway in 2007 at the age of 18.
His nine goals in 20 games during his first year in Norway persuaded Udinese to sign the striker.
He made one start and four substitute appearances for the Italian club before his affinity with Granada began the following season.
Ighalo netted 17 goals as Granada secured promotion back to the Spanish second division for the first time in 22 years via the play-offs.
He started the 2010/11 campaign on loan at Serie A side Cesena but was unable to secure regular football and after four appearances was loaned back to Granada.
Ighalo only scored five goals in 25 outings for Granada that season but one of those was a fine solo effort in the play-off final which secured promotion to La Liga.
Six goals in 30 outings followed during both of the next two campaigns and he scored four in 18 appearances last season.
Ighalo, who is 6ft 2in and strong in the air as well as a decent finisher, has always dreamed of playing in England and is believed to be keen on the move.