This fixture allows you to turn the flow of water – which relates to emotion - on and off. To dream of a faucet suggests that you are exploring how to turn emotions either on or off. In a new relationship, you may be trying to overcome feelings of jealousy and possessiveness, or are being forced to subdue your real feelings.
A situation may be forcing you to control your emotions and the issues surrounding the faucet will describe whether this is healthy. Chances are, if you are dreaming of a faucet, a new situation is breaking down your defenses so your real feelings can flow.