Holden has been absent for the last several weeks but took part in a full training session yesterday.
And the Saddlers hope to have the 23-year-old in the squad as they look to get off the mark in League Two.
“We’re hopeful that, in some capacity, Rory can be involved,” said Taylor.
“As it stands, Rory has trained with the group and trained well.
“He’s looked good in training. He got slightly frustrated at times because he hasn’t played as much football as he would’ve liked and his touch maybe isn’t where he expects it to be.
“But that’s normal and it’s good to have him back with the group.
“He has trained fully – looked strong and sharp.
“When you’re injured, the only thing you want to do is be back on the grass with the players.
“But there’s a process you have to go through to build yourself back up.
“It’s great to have him back and and we’re hopeful he can be involved in some capacity at the weekend.”
Walsall go into the clash after losing on penalties to Doncaster in the Carabao Cup on Tuesday.
On visitors Forest Green, Taylor added: “On Tuesday, our level of performance was excellent.
“So, I want the players to continue in the same vein.
“There’s a work ethic in the group to make sure we deliver.
“I’m really excited about the game. It’ll be tough, but hopefully we can come away with three points.”