A valence fluctuating phenomenon, which is one of the most interesting subjects in strongly correlated electron systems, has been studied theoretically in EuNi₂(Si_0.18Ge_0.82)₂, in which the field-induced valence transition from a nonmagnetic Eu³⁺ state (4f⁶) to a magnetic Eu²⁺ state (4f⁷c¹) was observed at around 40 Tesla by means of X-ray absorption spectroscopy (XAS) and X-ray magnetic circular dichroism (XMCD) at Eu L-edges. Here, c denotes a hole in a conduction band. Both XAS and XMCD in fields exhibit two peaks corresponding to the two valence states, although one of them is nonmagnetic. In this paper, we propose a model to explain the field-induced valence transition, in which the hybridization between the 4f⁶ state and the 4f⁷c¹ state plays an essential role. Comparing XAS and XMCD calculated with experimental data, we find that XAS and XMCD provide us with detailed microscopic information on the mixed valence state through the polarized 5d electrons. Finally, we demonstrate how effective XAS and XMCD are for studying such mixed valence phenomena.