1) Make a new document, I used 300x300.

2) Go to Filter>Render>Difference Clouds and apply this 2 times.

3) Now select your paint brush tool with a nice 9px round brush make lines like below:



4) Apply Filter>Distort>Twirl:

Angle - 146

5) Apply Filter>Blur>Radial Blur with these settings:



6) Filter>Noise>Despeckle and press CNTRL+F 2 times to smoothen it out more.

7) Apply this Hue setting, press CNTRL+U:



8) Duplicate the layer. Change the blending from Normal to Color Burn.

Voila: