I've always wondered what was the reason behind its mysterious lyrics, and I came to a list of possible interpretations:
1) it tells about the end of a passional love story, somehow destined not to be happy;
2) it tells about loss and the death of a person you love(d);
3) it tells about the contact between the human world and another ghostly, spiritual world "on a dark New Year's night";
4) it tells about a moment of "fascination" and spell, when Loreena can estabilish a connection with a distant past, and then suddenly she comes back to the present...
I'd really like to know what other members of this forum think about this song... please share your thoughts!