Hammer

Hammer or Takuri in Japanese
A Hammer must appear after a significant downtrend
The long lower shadow shows resilience

Bullish reversal pattern
The market is hammering out a base
Appears at the bottom of downtrends
Small real body red or green
Hammer with a green body is slightly more bullish
Lower shadow at least twice the size of the real body
The longer the lower shadow, the stronger the signal
Upper shadow is very small or non existent
Needs confirmation with a green candle closing above the close of the hammer
 The low of the hammer is considered support

        Below is a 1 hour chart of the EUR/USD showing 3 hammers. 

The last hammer is more significant because it forms a bullish engulfing pattern.