Phil Brown hopes that Pedersen will step up from light training to full training by the end of the week to come into contention for the game at Loftus Road.
He told the Hull Daily Mail: "I will know more about his chances for playing at QPR by Thursday or Friday but he's coming along well and could play a part. But that will become clearer in the next 48 hours."
Meanwhile, Folan is all but ruled out with the foot injury that has kept him out of action for over a month.
On his £1million signing, Brown said: "He's only been involved in three games in eight weeks and now he's going to need something close to a pre-season schedule before we can bring him to the table.
"That will be a frustrating spell for both of us but one that can't be taken lightly."
Trialist Malcolm Christie continues his personal fight back to fitness as he plays for City's reserves at Darlington today, as does midfielder John Welsh, making his second appearance since breaking his leg.