The Reds have struggled over the early part of the season, and they currently sit in 16th place in the Championship table.
However, Freedman has seen enough to suggest that their results will turn around soon, and he ensures that the side are on the right track.
"It is a big challenge with all that is going around at this football club," Freedman said.
"But I think we are on the right path. From off the field, putting the embargo correct, and on the field with one or two young players coming through the ranks.
"We play good football. I think the only thing missing is a little bit of good fortune and a couple of results will go our way very soon."
Freedman's task has been made difficult as the transfer embargo Forest have been put under has meant that he couldn't bring in all the players that he would have wanted.
Injuries to key players have also harmed the squad's chances, but Freedman has obviously seen enough to be encouraged by over the early part of the campaign.
Forest are currently on a six game winless run, but there were signs of promise earlier in the campaign for Reds supporters.
Wins over Birmingham City and Queens Park Rangers in September showed the quality in the Midlands outfit's squad, and Freedman will hope that he can guide them out of their slump and back to their best soon.