Can I change my website root directory to any folder in my web space?

Each domain associated with your hosting plan stores its files in a particular directory known as its parking location.  On our UNIX-based hosting plans, parking locations can be set to either the webspace root ({home}/html/) or to a directory with the same name as the domain name (i.e. {home}/domainname.com/html/). 

It is not possible to park a hosted domain in any other location.