Goncalves would be Wolverhampton Wanderers' ninth summer recruit.
On an Instagram account seemingly belonging to Goncalves, he describes himself as a "Football player for Wolverhampton CF" and posted the below image on Monday evening.
Wolves' former Valencia head coach Nuno Espirito Santo [left]
A 5 ft 8 in midfielder, he is expected to link up with Scott Sellars' Under 23 team initially.
Born in Chaves, Goncalves was on the books of local side Grupo Desportivo de Chaves before linking up with SC Braga and Valencia.
Wolves have recruited eight new players this summer, including Portuguese pair Ruben Neves and Roderick Miranda.
Goalkeepers John Ruddy and Will Norris, and defenders Ryan Bennett, Willy Boly, Barry Douglas and Phil Ofosu-Ayeh have also arrived at the Black Country club.
Wolves' former Porto star Ruben Neves