You only use "ambos" at the end of a sentence when you want to emphasize that both are participating, but you have to add a comma: "somos estudiantes, ambos", otherwise, you're safe saying "ambos" at the beginning of the sentence.
Nosotros doesn't tell that there are specifically two of you. It only stays that there are more than one and you are part of the group. You need a word like ambos or dos to express the thought completely.
still requires nosotras on May 28, 2017. And... note that the translation inside the discussion is Translation:Ambos somos estudiantes. so many of us knew this... but still the glitch. Or not enough people/time to get to this one. ?