Forest currently sit 17th in the Championship table after a slow start to the campaign but have eased concerns in recent weeks with back-to-back wins.
Last week's victory over Ipswich was followed up by a 5-2 thrashing of Barnsley on Friday night but they now face a difficult few matches.
First up is Newcastle on Friday, before clashes against Derby, Preston, Wolves and Huddersfield.
While some of the club's fans have shown signs of caution, Carayol believes Philippe Montanier's side should be looking forward to the challenge.
He told the Nottingham Post: "I have always felt that playing against the so-called better teams in the division is something to look forward to. There is often more football played.
"For me, I prefer playing in those games. I do see it as a challenge. But equally I don't think you should put too much focus on the opposition. I don't worry too much about who we play.
"Things were going against us, but we will stick together and we believe it will turn. I said previously, that it feels as though we are only a small margin away from giving somebody a good spanking."