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We analyze incommensurate charge-density-wave (CDW) and pair-density-wave (PDW) orders with transferred momenta $(\pm Q,0)$/$(0,\pm Q)$ in underdoped cuprates within the spin-fermion model. Both orders appear due to exchange of spin fluctuations before magnetic order develops.We argue that the ordered state with the lowest energy has non-zero CDW and PDW components with the same momentum. Such a state breaks $C_4$ lattice rotational symmetry, time-reversal symmetry, and mirror symmetries. Wedoi:10.1103/physrevlett.114.197001 pmid:26024191 fatcat:hzlfsindond7fj6pbbk6fw2vgy