Manager Owen Coyle has expressed a desire to sign the Spanish Under-20 international on a permanent deal from Benfica in the summer - but Moreno is keeping his options open.
Real Madrid signed the forward from Celta Vigo in 2009 but, after failing to establish himself in the senior side, he was sold to Benfica in a deal which contained buy-back option.
And Moreno admits that he "would love" a return to Madrid in the future.
He said: "Things happened very fast in the summer but I am very happy at Bolton. The adaptation has been fairly easy to me because my mates, the club and the fans have helped a lot.
"Have I closed the door on a return to Madrid? Not at all - neither Real Madrid nor Benfica.
"Real Madrid have sold me with a repurchase option. Obviously, my performances will decide whether that option becomes effective or not.
"I would love to return to Real Madrid - it would be ridiculous to deny it. But right now I have to keep doing it to get to Madrid, or any another big European team.
"Now the first and the only thing I think about is finishing the season at Bolton in the best way possible. Then at the end of the year we will see what happens; if I stay at Bolton or I return to Benfica, or what."
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