The words "instruct" and "teach" mean basically the same thing and emphasize careful instruction. Alternate translation: "I will teach you everything about the way" (See: [[rc://en/ta/man/translate/figs-doublet]])
Living in the correct way is spoken of as if it were a path that the writer should walk. Alternate translation: "how you should live your life" (See: [[rc://en/ta/man/translate/figs-metaphor]])
Here "my eye" refers to Yahweh's attention. Alternate translation: "and direct my attention to you" or "and watch over you" (See: [[rc://en/ta/man/translate/figs-metonymy]])