Yes, you can point two different domain names to one directory. Just go to the Domain Manager section in your hosting control panel choose the domain for which you would like to change the path and select the Pointers tab. From there you can set the new path/directory for your domain.
For example, you have added two domains via the Domain Manager section:
domain1.com
domain2.com
In the Domain Manager section you will have respectively:
www.domain1.com
www.domain2.com
Both domains are pointed to the respective folders:
/home/www/domain1.com
/home/www/domain2.com
To have your two domains loading the content from directory1 you will have to change your domains path to:
/home/www/directory1
