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Yes....same as batt volts (12.7) at one side of relay, other post on relay is 0 volts. So next question is, which wires connect to which terminal on that relay? Batt+ plus fusible links all on one side and the starter cable on the other? The funny thing is that nothing was done to the wiring. All of a sudden no power, thats what doesn't make sense to me.
Had batteries load tested and they are fine. What is the function or the relay/solenoid that is on the starter?
Go with ford trans tech here. It's definately the red cable coming from the batt + to the starter relay. Take and flex it along it's entire length. If there's any corroded of broken sections, they'll show up as kinks, or stiff areas.
The starter relay sends the switching voltage to the actuall starter itself.
Near the voltage regulator on my 86 there was a 12 AWG yellow wire.
The wire was spliced in a grey connector, and there was one other green red wire in the connector.
The side of the connector with the large yellow wire had melted, easy to see when you looked at it.
Driving around ne night, everything great, stop and see a friend.
Come back out, no power to anything in the cab.
The connector was melted so bad, the yellow wire was not malking connection anymore.
Spliced the wire around the connector, everything back to normal.
Not sure if the colors changed between 86 and 94, but that sounds like your problem to me.