West Ham suffered a 3-1 defeat at home at the hands of Liverpool last weekend.
"I think we've got a good squad", Moyes told West Ham's website.
Moyes' appointment has been greeted with dismay by many West Ham fans, given his lack of success since leaving Everton in 2013.
West Ham potential Moyes began to come to prominence when he was in charge of Everton, leading him to get the top job at Manchester United after being identified by Sir Alex Ferguson as the ideal replacement, which ended badly before he moved to failed roles at Real Sociedad and Sunderland. "The first thing is to win the next game and build from there, and I'm sure we will be in a much stronger position before long".
"I'm really looking forward to meeting the supporters, being in the stadium with them", he said.
"I feel very exhausted and want to take a break from football management".
Hammers co-chairman David Sullivan believes with his experience and the knowledge of the Premier League, Moyes is the right man to turn things around for the club.
Moyes insists he is comfortable with his initial six-month deal, adding: "We've done a contract which suits both parties, we are all comfortable with it. Let's get the job done and then talk at the end of the year".
"He is highly regarded and respected within the game, and will bring fresh ideas, organisation and enthusiasm".
"He proved with Everton that he has great qualities and we feel that West Ham United is a club that will give David the platform to display those qualities again".
Moyes' first match in charge will come after the worldwide break, a trip to Watford in the Premier League on November 19.