Let $V_d$ be the complex vector space of binary forms of degree $d$ endowed with the natural action of the special orthogonal group $SO(2).$ Consider the corresponding action of the group $SO(2)$ on the coordinate ring $\mathbb{C}[V_d]$ and let $\mathbb{C}[V_d]^{SO(2)}$ the algebra of $SO(2)$-invariant polynomial functions.
What we know about the algebra $\mathbb{C}[V_d]^{SO(2)}$: minimal generating set, Poincare series, ... ?
In the case of the group $SL_2$ the situation is classical and algebra of invariants of binary form is well-studied but what about binary form invariants of the group $SO(2)?$
I hope the problem was already solved in 19th century. Can anyone tell me a good reference?