Die Mannschaft have been in impressive form so far this summer, topping Group G with seven points before disposing of Algeria and France to set up Tuesday's semi-final with Brazil.
Although Luiz Felipe Scolari's side have made it to the semi-final, their performances have failed to hit the heights expected. Low admitted the hosts are a strong team, but insists his side can match them.
"We all know how strong Brazil are," he told a press conference. "They were the big favourites right from the start and the players have mostly coped with this role outstandingly.
"They underlined at the Confederations Cup last year that the expectation levels lift them further and the pressure doesn't numb them.
"What they've done is good for the whole tournament; it's good when the hosts go so far, but we're self-confident and we've gelled more as the tournament has progressed.
"We'll devise a good plan and give Brazil a real fight. The chances are even and it's going to come down to something really minor, who reaches the final."
The 54-year-old said he is excited about the semi-finals, labelling it as a match between the two continents.
Low continued: "These two semi-finals are a battle of the continents. Europe against South America.
"We've been in at least the semi-finals of the last four World Cups and that just shows that we've been playing consistently at the very highest level.
"One thing is for sure - we desperately want to play in the Maracana in Rio again, on 13 July. We are not done yet."