Where is the ABS sensor located on my 2004 Ford Explorer XLT? My ABS light will periodically come on then goes off when you shut off the engine. I also have lost my cruise control function.

failing sensor --short or damaged circuit //sensor

How to Install Replace Rear ABS Sensor 2006 Ford Explorer Buy Quality Auto...

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Hope this helps

Bank two are the even cylinders. Follow exhaust manifold on the side. You will find an O2 sensor just after or on the manifold, before the catalytic converter. Then, look after the catalytic and you should find another O2 sensor, this is the one you mention in your post.

Failure Mode Effects Management (FMEM) is an alternate system strategy in the PCM designed to maintain engine operation if one or more sensor inputs fail.
When a sensor input is perceived to be out-of-limits by the PCM, an alternative strategy is initiated. The PCM substitutes a fixed value and continues to monitor the incorrect sensor input. If the suspect sensor operates within limits, the PCM returns to the normal engine operational strategy.
All FMEM sensors display a sequence error message on the scan tool. The message may or may not be followed by Key On Engine Off or Continuous Memory DTCs when attempting Key On Engine Running Self-Test Mode.
With the fail safe mode was the "Service" wrench light lit or check engine light ?
With

According to the manual pg 10. http://www.fordservicecontent.com/Ford_Content/catalog/owner_guides/04expog3e.pdf
Anti-lock brake system: If the ABS light stays illuminated or
continues to flash, a malfunction has been detected, have the system
serviced immediately. Normal braking is still functional unless the brake warning light also is illuminated.

Abs is bad sensor in hub bearing,engine light you need obd 2 scanner to read and reset code,

The ABS light is for the Anti-lock Braking System. The MIL will illuminate if there is a difference in wheel speed sensors signals to the PCM. So you might have a wheel speed sensor that is going out on you. Does the light come on at low speeds, or just higway speeds? You could take the vehicle to a local parts store and have them pull the codes for you and that will tell you which speed sensor is out of whack. Also road grime, dirt and gunk buildup can cause speed sensors to give false readings. Hope tihs helps you out.......

Sounds like the ABS sensor there are four sensors each located near the brakes

polarcycle is right but there is a speed sensor on the drivers side top of the trans. toward the tail shaft or transfer case. there is as well a sensor inside the trans. itself that is mounted on the web. behind the overdrive band and drum.

That year Explorer was notorius for rear ABS sensors going bad. If your ABS light is on as well this may be your problem. Also they were notorious for 4WD modules going bad. This problem is more expensive. I would advise you to have it checked on a computer to see what codes you have.