How can I change location of archive folder>

Initial setup
3

There are two types of archiving. 

  1. Archiving as featured by your email provider.  Not all providers offer that, but if they do, Ctrl+Shift+A will move the message from it’s current folder to an archive on the server.

  2. Automatic Archiving in eM Client. This you can setup in Menu > Tools > Settings > Mail > Automatic Archiving. This is a time activated feature that will remove all messages over a specific age from the server and save them to a local folder.